With the confirmed and retested Inv H&S, the breakout to the upside, retest of the 1.272, etc. we all know the magic number of $69,000 for April. (heh)
I'm incredibly new to this, so if my pitchfork is off, or if you don't use them for a particular reason please educate me, would be honoured. But I think the confluence with past and current price action on this 6h PF, and a PF on the 1D as well, prove the respected levels.
The measured move from $60,100 to $50,305 bears the tech. target of $69,895. This is the exact difference between the neckline and the .618 on the Pitchfork on 4/20/21. I had to check twice, FYI.
Once we get there, do you think we will once again find a month or so of resistance before we can call 70k a support level? If buying pressure stalls, maybe we're in for that 30% dip/firesale? Do you think it would be healthy to retrace 30% over the course of May/June/July? Hopefully without any Black Swan events, but I think that's never really ruled out these days.
Please like and comment with your thoughts!
I'm incredibly new to this, so if my pitchfork is off, or if you don't use them for a particular reason please educate me, would be honoured. But I think the confluence with past and current price action on this 6h PF, and a PF on the 1D as well, prove the respected levels.
The measured move from $60,100 to $50,305 bears the tech. target of $69,895. This is the exact difference between the neckline and the .618 on the Pitchfork on 4/20/21. I had to check twice, FYI.
Once we get there, do you think we will once again find a month or so of resistance before we can call 70k a support level? If buying pressure stalls, maybe we're in for that 30% dip/firesale? Do you think it would be healthy to retrace 30% over the course of May/June/July? Hopefully without any Black Swan events, but I think that's never really ruled out these days.
Please like and comment with your thoughts!