White trend lines drawn from our bottom at $6,000 as trend price lines.
Red dotted horizontal line was found by finding previous resistance/support areas.
Although we made a beeline to upper $10,000, I believe we will not retrace further than $9,500.
My targets are $10,050, $9,800, and $9,650. Provided we do not have a strong pullback, I may not sell out at all in fear of a bear trap. And because I'm lazy.
The "asbolute bottom" is mid to low $8,000s, as seen from our heavy consolidation around that area as well as using Volume Profile to figure out where most of the trading volume took place.
Red dotted horizontal line was found by finding previous resistance/support areas.
Although we made a beeline to upper $10,000, I believe we will not retrace further than $9,500.
My targets are $10,050, $9,800, and $9,650. Provided we do not have a strong pullback, I may not sell out at all in fear of a bear trap. And because I'm lazy.
The "asbolute bottom" is mid to low $8,000s, as seen from our heavy consolidation around that area as well as using Volume Profile to figure out where most of the trading volume took place.
Note
Vol. Profile
Note
Updated predictions:
Predictions for short term (1-7days): 9000-11500
Drop:$9700 - $9800 - $10050 - $10300 - $10500
High volatility possible in lower 9k region if we go there, 8k low.
Up:
$10900 - $11500
Barring a huge dump, I believe we will continue to consolidate in the $10,000s region. Then riding along the price trend line around mid $11,500s.
Short term, >$12,000 is hard as we would need to cross up a speed fan line.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.