Daily chart update to my previous post.
I would be very cautious about opening a short below 10k without the price testing that range one more time.
We're about to dip down to the neckline of a Head and Shoulders formation.
Retest of 10k and subsequent rejection completes the right shoulder.
Eventual Target = $6k
Time range: 1 month
Target is shown as the point at which the regression lines meets up with the current trendline. In other words, we will be retesting the bear market breakout point at around the 5k/6k range. This is a longer term trade. As such, those entering the trade should be mindful that there are numerous supports between the current price...