Update from previous idea:
I mean again my analysis played out perfectly from yesterdays post, I said a break of the 414/382 support box would signal a volatile move down and then at the bottom of the post I said in the absolute worst case we could see a test of my green highlighted box and that is exactly what happened, crazy.
so currently price has started to recover, I am honestly bullish right now and I don't really know why, I just have a good feeling (don't trade off emotions) but I do see some upside in the near future.
right now however, we need to break back into the 0.414/382 box as it has flipped as resistance now and the next tough price point to break through is the 3900 level, ideally look at breaking above the resistance levels mentioned and bounce off the 414 as support pushing price above the 3900 level and testing the 0.5, going back to the consolidation range, I am hoping the 0.5 level is weaker now due to the amount of times It has been tested, so we have a long way to go and 3 levels to break but price can definitely do it.
in the worst case scenario I see us breaking all the way back down to the green support box forming a reversal pattern and pumping back to the upside. if you look at the volume profile here there is a huge spike in volume at this level showing a good strong support level. if we close a 1-4hr candle below that I would be mid term bearish with this one.
- best case test the 0.5 at 3982
- worst case back down to the 3770 support box for a reversal pattern hopefully.
I mean again my analysis played out perfectly from yesterdays post, I said a break of the 414/382 support box would signal a volatile move down and then at the bottom of the post I said in the absolute worst case we could see a test of my green highlighted box and that is exactly what happened, crazy.
so currently price has started to recover, I am honestly bullish right now and I don't really know why, I just have a good feeling (don't trade off emotions) but I do see some upside in the near future.
right now however, we need to break back into the 0.414/382 box as it has flipped as resistance now and the next tough price point to break through is the 3900 level, ideally look at breaking above the resistance levels mentioned and bounce off the 414 as support pushing price above the 3900 level and testing the 0.5, going back to the consolidation range, I am hoping the 0.5 level is weaker now due to the amount of times It has been tested, so we have a long way to go and 3 levels to break but price can definitely do it.
in the worst case scenario I see us breaking all the way back down to the green support box forming a reversal pattern and pumping back to the upside. if you look at the volume profile here there is a huge spike in volume at this level showing a good strong support level. if we close a 1-4hr candle below that I would be mid term bearish with this one.
- best case test the 0.5 at 3982
- worst case back down to the 3770 support box for a reversal pattern hopefully.
