Showing an inverse H&S. Few different scenarios could happen here.
Showing another bear pennant. Watching for support around $6050
Watching $6.60-$6.80 area to open a short position. Lot of resistance around that area. GLTA
How long can it stay overbought? Profit taking and short sellers will be stepping in soon.
Usually after a big red candle, we see a green candle. Followed by another down day/ hammer candle. Not sure if this is the start of wave 3 up or one more 5th wave down. GLTA
Posted this one twitter a few days ago. Figured i would share on here.
All notes on chart. Will play which ever way it tells me to go in the next couple hours.
Looks like a pullback coming with the chart pattern.
Should see a short term pop to the fib level soon
Technically we already pulled back to the 78.60% fib level at $5750. Looking like that may of been the bottom and ready for another bull run.
Believe well test the $6800-$6340 fib levels then explode out of the descending wedge. Target will be 10k +