Just a random thought.......
It's right on the line now, if we break down 9.2k is the target, if we manage to pull up 11k and a bit or even 12k (based on the long term trendline) might be the target.
My gut feeling tells me it will go down and might even break the 9.2k line........ but you don't want to bet your money on my gut feeling :-(
Just trying to get a bit of grip on the weekend.
Don't think we will break the top line, if we do we might be in for another bull week.
Ranging between the top and bottom line very possible.
Breaking of the bottom line might signal more downside in the coming week.
No trading advice in any way
People it's been a couple of months again.
I don't do short term trading i just buy and hodl.
In my humble opinion this bullish move is nice but it is not the start of the next parabolic bull cycle.
-Yes the 1 year trend line is broken upwards, but the 6 months trendline was just touched.
-There was no real reason for this bullish move so it might come down just...
It's been a while since i published something.
Main reason is i simply don't believe in TA or any form of graph fortune telling tools.
And yes al of the TA's and pro's will be right in one of there forcasts and brag about it.
Like to keep it very simple with just 2 lines and some very basic economics.
As long as we are:
- below the lowest line, don't even think...
For personal refference, so no trading advice
Requirements for bullish reversal:
- Break trendline from previous high and alltime high
- Break previous high of 7.4k
Most likely scenerio's:
Continuation of bearish trend with dip between 4.5k and 5.5k followed by reversal
Continuation of bearish trend with again a drop to 5.5k / 5.8k not followed by reversal
I see a lot of people in the TV chat calling for the moon this morning.
Personally i don't see that yet....... Has to break at least the lowest trendline.
Untill that it's just another lower high.
This is no trading advice, it's just my humble opinion