Fast and simple analysis:
We are in a big symmetrical triangle, a breakout is expected.
If we don't break the trend line at $212, we can/will fall back all the way to $185 and make the symmetrical triangle more valid.
breaking the trend line will/can lead us to a test of the ATH and even beyond that.
All the targets for each side are really precise (only the line price of the red/green square is important)
Probability for a dip is higher, I would therefore short and put stopp loss a little above the trend line. If it breaks to the upside just go long.
We are in a big symmetrical triangle, a breakout is expected.
If we don't break the trend line at $212, we can/will fall back all the way to $185 and make the symmetrical triangle more valid.
breaking the trend line will/can lead us to a test of the ATH and even beyond that.
All the targets for each side are really precise (only the line price of the red/green square is important)
Probability for a dip is higher, I would therefore short and put stopp loss a little above the trend line. If it breaks to the upside just go long.
Note
The pump to 217 was a bulltrap. Targets for the dump are all known.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.