Update from previous idea:
We spoke about the yellow line calling the top and again we have seen another test of the yellow line, BUT no test of support which honestly is super bullish it is easy to get caught up on the small 3,4,5% movements on price but if you were to zoom out you can see we haven't even tested support yet price is being bought up before it manages to get there.
I had the orange price tag at 3766 from a previous analysis and again finding support at this level, we did slightly break the 0.5 fib but bounced back above it straight away. again I am looking to close tonight over the 0.5 see it tested as support through the night and then testing the yellow line hopefully, finally, breaking it and blasting to the 0.618 at 4070.
- best case breaking the yellow line FINALLY and seeing some good upside momentum I am expecting a huge move when this line breaks.
- worst case is finally seeing a test of one of my support lines probably the 3725 level but I don't expect a break down here at all.
We spoke about the yellow line calling the top and again we have seen another test of the yellow line, BUT no test of support which honestly is super bullish it is easy to get caught up on the small 3,4,5% movements on price but if you were to zoom out you can see we haven't even tested support yet price is being bought up before it manages to get there.
I had the orange price tag at 3766 from a previous analysis and again finding support at this level, we did slightly break the 0.5 fib but bounced back above it straight away. again I am looking to close tonight over the 0.5 see it tested as support through the night and then testing the yellow line hopefully, finally, breaking it and blasting to the 0.618 at 4070.
- best case breaking the yellow line FINALLY and seeing some good upside momentum I am expecting a huge move when this line breaks.
- worst case is finally seeing a test of one of my support lines probably the 3725 level but I don't expect a break down here at all.
