Price retraced 50% of the bounce from 6k. We are now sitting on the 200 day moving average and a longterm trend line.
Good long entries after break of blue signal line and break out past the red log downtrend line.
Expect a strong move up to 24,000 if it breaks the red line.
Good long entries after break of blue signal line and break out past the red log downtrend line.
Expect a strong move up to 24,000 if it breaks the red line.
Note
if signal line doesn't break at 9k it could slide further down to 7,600Note
9900 needs to be broken before entering long.Note
alternative scenario: fakeout above signal line then drop lower to 7600Note
wait for activity above 9800 before long entries
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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.