Above $12000 the sky may become the limit
Updated
Conservative speaking you really should remain NEUTRAL here, we have a lot of resistance yet to break before taking on bullish trades, gotta get a daily close above $12000!
However with the case of each ressistance getting broken the pressure to new highs will increase and the breakout could be violent leaving any bearish trades left behind giving u a bloody bear trap, so you really want to be neutral before daily close of $12000.
Take notice of the ascending triangle which target if realized lays at $18850 that simultaneously is forming a cup and handle which target lays at $17250 giving you a double top, suggesting going even higher.
HOWEVER there is a possibility of going right into a weekly bulltrap at around $14500 based on the Hyperwave concept which you have to be aware of, so look out for a weekly close above this critical mark to remain bullsih rest of the year.
However with the case of each ressistance getting broken the pressure to new highs will increase and the breakout could be violent leaving any bearish trades left behind giving u a bloody bear trap, so you really want to be neutral before daily close of $12000.
Take notice of the ascending triangle which target if realized lays at $18850 that simultaneously is forming a cup and handle which target lays at $17250 giving you a double top, suggesting going even higher.
HOWEVER there is a possibility of going right into a weekly bulltrap at around $14500 based on the Hyperwave concept which you have to be aware of, so look out for a weekly close above this critical mark to remain bullsih rest of the year.
Trade closed: stop reached
We came back to the swing low .. giving us a double bottem, we likely go lower!
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