BACK IN THE DOWNTRENDCHANNEL v2
Updated
so the daily has turned into an evening star and bulltrap. As for now the 200 EMA looks like strong support, but because the dailycandle is an evening star the next few daily candles are going to be red. That's why I think it will fall through it
the wave to the bottom of the trend channel didn't go down as I predicted in my last TA, but the pattern just got moved up to the evening star. If the support holds for a while and then drops later the wave could end up higher.
Depending on how this week will turn out we will either see a reversal at the the bottom of the green uptrendchannel and end of the wave (9.900-10.000), the fib0.618 or fib0.5 line. When this happens we might form another Inv H&S pattern. and shoot straight up to 13.2k
if these levels don't hold you should panic because the weekly candle is going to be a graveyard doji. the bottom would be around 5-6k.
good luck trading
the wave to the bottom of the trend channel didn't go down as I predicted in my last TA, but the pattern just got moved up to the evening star. If the support holds for a while and then drops later the wave could end up higher.
Depending on how this week will turn out we will either see a reversal at the the bottom of the green uptrendchannel and end of the wave (9.900-10.000), the fib0.618 or fib0.5 line. When this happens we might form another Inv H&S pattern. and shoot straight up to 13.2k
if these levels don't hold you should panic because the weekly candle is going to be a graveyard doji. the bottom would be around 5-6k.
good luck trading
Note
this is going to look ugly. We built a H&S pattern and are in for more downside
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