I will reference the 1973 crash as proof that this is what is happening today. Similarities: 8% between the 200sma and the all time High Daily Pennant/ Triangle Formation Bear Market Rally breaking above the 200sma, formed a double top 45% crash in prices in 232 trading days 50% crash from all time highs 1973 went 3 full range expansions 2023 potentially go...
It needs to breakout 45-45.5k for bullish movement. This is my first test idea on BTC chart. Let's see what will happen.
45 min has broken above the red dotted line - Weekly VWAP. This signals a bullish move in the short term. Keep stops reasonable, but tight in case of shenanigans by market makers. As always DYOR, this is not financial advice.
When this cup is finally finished playing out. The target for Viacom should be between $45-$47. Not sure where the handle comes in yet and I don't want to make any assumptions so we will wait on that. This is looking healthy despite the current market conditions in my opinion because with life being so hectic and the limit to outdoor activities... television may...
This should work out though it will require further inquiry into weekly and daily trends to find entries and exits. I will add to this post.