Broke down from a three month long rising wedge, and rising widening wedge. The rising widening wedge has a measured move to $64-$68 which is confluent with multi-year rising wedge support.
It is now apparent that market makers registered a new ATH, to grab liquidity from 2017. It is usual that liquidity grab is followed by a drop. It is quite fascinating that there are ask orders from 2017 still around 4 years later.
The drop in price will take the monthly RSI to touch multi-years support, imo. I envision afterward a major bullrun to 1.9k.
It is now apparent that market makers registered a new ATH, to grab liquidity from 2017. It is usual that liquidity grab is followed by a drop. It is quite fascinating that there are ask orders from 2017 still around 4 years later.
The drop in price will take the monthly RSI to touch multi-years support, imo. I envision afterward a major bullrun to 1.9k.
Comment:
Target reached.
