Hi,
Our dip to 7.2k and double top is looking a lot like the big dip to 6k and double top at 11.7k. If we repeat that, and the bulls don't completely lose their minds, we will bounce off the 78% fib and the rising log support.
Things would get quite tight after that, as we get trapped between the descending line from 19k-17k-11.7k and the rising log support (3k-6k-7.2k). Both lines have 3 touches and are the battle lines between bears and bulls.
Good luck!
Our dip to 7.2k and double top is looking a lot like the big dip to 6k and double top at 11.7k. If we repeat that, and the bulls don't completely lose their minds, we will bounce off the 78% fib and the rising log support.
Things would get quite tight after that, as we get trapped between the descending line from 19k-17k-11.7k and the rising log support (3k-6k-7.2k). Both lines have 3 touches and are the battle lines between bears and bulls.
Good luck!
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Related publications
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.