Hey there!
My previous idea was deleted by moderators. There was a bearish pennant that broke up, so now I see two ways of release.
I am still expecting the 3rd wave of the ABC correctional wave, plus descending volumes and RSI moving at the top edge. And here the target I see is around $57,000, the previous support line.
But another scenario is also possible if we break the previous resistance line at around $73,600, and most likely we will see a breakout. If there is no confirmation on the volumes, we will move down.
What are your thoughts, guys?
My previous idea was deleted by moderators. There was a bearish pennant that broke up, so now I see two ways of release.
I am still expecting the 3rd wave of the ABC correctional wave, plus descending volumes and RSI moving at the top edge. And here the target I see is around $57,000, the previous support line.
But another scenario is also possible if we break the previous resistance line at around $73,600, and most likely we will see a breakout. If there is no confirmation on the volumes, we will move down.
What are your thoughts, guys?