The "One look" averages have crossed, the price is above thick twisted cloud. Having missed those signals, now waiting for another long trade to present itself.
66.** is a significant former level, now likely support - reason for ignoring today's short signals at London open.
May have tested support just now and going to stabilise at the old trend line around 17.5k by next summer.
Near term watch those how quickly it's going to get to either 6 or 8k.
Long term... Either the underling currency proves itself resilient and finds fair value between 8 and 20.
Or else... emp attack... a new silk road... whatever...
6 and 8 now the levels to watch for confirmation either way. this merely presents a possible return to old trend lines at a probable future level.
barring an event such as a new silk road or whatever...
Who's to say it won't go to 60 as quickly as it went to 50?
here's a longer term view. i know the trendlines should have proper touchpoints, I still think mine is a valid interpretation.
now with added zigzag for elliott fans :-)