Early November longer trend breakout
Previous fun prediction showed an end of September breakout which has now been confirmed. Volatility and Fud has caused support lines to be invalidated but general 100 SMA bounce has held intact.
Right now looking for an early November bullish breakout. Top resistance line has formed that joins back at the top of May with 50k Being the pull back point. One more consolidation period back to strong support of 44.1K - 44.7K which also lines up with the Fib Golden pocket and the 100 SMA. Massive 3 month symmetrical triangle. I wouldn't think we will test the lower 40's again unless another FUD storm hits. The fact that we have bounced is a very overall Bullish sign for the greater market trend. Happy Trading.
Right now looking for an early November bullish breakout. Top resistance line has formed that joins back at the top of May with 50k Being the pull back point. One more consolidation period back to strong support of 44.1K - 44.7K which also lines up with the Fib Golden pocket and the 100 SMA. Massive 3 month symmetrical triangle. I wouldn't think we will test the lower 40's again unless another FUD storm hits. The fact that we have bounced is a very overall Bullish sign for the greater market trend. Happy Trading.
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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.