Hi guys!
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA based on the previous bullrun in 2017.
I am also keeping an eye on the fibb levels and the huge VPVR resistance at 6.4k. A correction to 6.4 would make the most sense. I will probably start to average in from the 7k-6.8k range.
I will keep you guys updated.
***It is not a financial advice, It is only my own opinion***
If you have any question, leave comment, and if you found it helpful don't be afraid to hit the like button!
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA based on the previous bullrun in 2017.
I am also keeping an eye on the fibb levels and the huge VPVR resistance at 6.4k. A correction to 6.4 would make the most sense. I will probably start to average in from the 7k-6.8k range.
I will keep you guys updated.
***It is not a financial advice, It is only my own opinion***
If you have any question, leave comment, and if you found it helpful don't be afraid to hit the like button!
Note
To have a better look on the VPVR
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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.