Heres what I have going on.
-Two possible trend line supports; Red and Orange.
-Falling Wedge (green). Look how it meets perfectly with trend line support.
-300MA. This is where 6k bounced from. Repeat? Also lines up nicely with trend line support.
Note that the 300MA has not been broken since we crossed bullish in 2015.
*My guess it that 7k will be the volume induced bounce we need to attempt another break at the red down trend line and begin the 2018 bull run.*
-Another little extra I added in: The white line is my self-determined uptrend channel/resistance. My theory is everything above that was unnecessary overextension from the Futures/ETF hype pump. Ignore everything above that and we are still following uptrend.
Not financial advice.
-Two possible trend line supports; Red and Orange.
-Falling Wedge (green). Look how it meets perfectly with trend line support.
-300MA. This is where 6k bounced from. Repeat? Also lines up nicely with trend line support.
Note that the 300MA has not been broken since we crossed bullish in 2015.
*My guess it that 7k will be the volume induced bounce we need to attempt another break at the red down trend line and begin the 2018 bull run.*
-Another little extra I added in: The white line is my self-determined uptrend channel/resistance. My theory is everything above that was unnecessary overextension from the Futures/ETF hype pump. Ignore everything above that and we are still following uptrend.
Not financial advice.