Its been a while, but I figured I'd publish my chart. Nothing to fancy, just used some ghost bars from a similar bear movement to what we just had. Its looking like we are currently on suppot and I think we should see some short term up, but keep in mind that we are still currently in a bear market so it could break down before the move. Currently we are trading at right around 6400 USD after a push to 6100 and a little bounce. Since the bounce to 6600 we failed to hold and have drifted back down to find support. It appears that our major resistance level is right around 7000 USD and I am confident that we will see this level before finding new lows. My target for this trade is Short at 7k and Long right around 4800, we could reach 4800 then bounce to 7k. Either way Im confident we will see both in the coming days/ weeks.
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Remember to hit that like button if your agree!! More charts to come
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Well I expected a move to the upside out of that triangle on the 5 min. It looks like we broke support, my next target on this bear move is the 5700 zone. If we see no bounce there then we should head down to touch our lower target of 5200. Stay vigilant because we could see a move to the upside to test resistance at 7k.
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As you all can see this trade is going well, exactly as planned!!!
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Next zone of resistance is 7k, which is my target
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Trade still active, still expecting a push down to 4900. MAC D cross on the monthly, so unless we make a major move to the upside soon, that target is becoming more and more a reality.
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This idea is going as planned. Im expecting 4900usd soon to make a new yearly low.