The macro fib extension from the last major bull run are in play.
High volume @ $1,600 shows where the Big Money set their buy/sell orders so this often becomes an area to watch closely.
$1,600 - $1,689 block is where I'll continue to build my long position and look to sell at the next fib level up.
Closing below $1,600 could change the trend but the 200 day EMA would likely catch the fall. The less risky option is waiting for a daily candle close above $1,689.
High volume @ $1,600 shows where the Big Money set their buy/sell orders so this often becomes an area to watch closely.
$1,600 - $1,689 block is where I'll continue to build my long position and look to sell at the next fib level up.
Closing below $1,600 could change the trend but the 200 day EMA would likely catch the fall. The less risky option is waiting for a daily candle close above $1,689.