We are still in that consolidation range between $38000 and $40,000.
A pennant has formed, and there is not much to do here. Be patient. Wait for the breakout on either side of the pennant ($38,500-$41,500 as of writing)
If we break out to the upside, $42,715 is the near term target (Mar 9 high), with $45,000 being the final hurdle.
If we break to the downside, the bottom end of the consolidation range ($37,200, lows on Mar 07, & Feb 25) is going to be the near term target. If broken with force, $34,335 is the next stop. (Feb 24th low)
$32,960 is the contract low. (Jan24th)
A pennant has formed, and there is not much to do here. Be patient. Wait for the breakout on either side of the pennant ($38,500-$41,500 as of writing)
If we break out to the upside, $42,715 is the near term target (Mar 9 high), with $45,000 being the final hurdle.
If we break to the downside, the bottom end of the consolidation range ($37,200, lows on Mar 07, & Feb 25) is going to be the near term target. If broken with force, $34,335 is the next stop. (Feb 24th low)
$32,960 is the contract low. (Jan24th)
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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.
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.