Currently sitting in a long. entered 9600, wave 4.
Will be watching what price does around wave 5.
Also for this 'pennant' or whatever you wanna call it to remain bullish I don't really wanna see price showing weakness around 9500-9550 - breaking 9500 and ill strongly reconsider flipping bearish as could result in a more aggressive breakdown. (8-8.5k +/-roughly)
My guess is we could at the very least test 10k again - consolidate - and either break lower but rather test previous resistance at 10.5k before moving to 11-12k.
Weekly is in an interesting spot as not only its making lower lows but its also had a higher high - I expect this next high to be a higher high between 11.5-12k.
Will re-asses once price makes a move.
Will be watching what price does around wave 5.
Also for this 'pennant' or whatever you wanna call it to remain bullish I don't really wanna see price showing weakness around 9500-9550 - breaking 9500 and ill strongly reconsider flipping bearish as could result in a more aggressive breakdown. (8-8.5k +/-roughly)
My guess is we could at the very least test 10k again - consolidate - and either break lower but rather test previous resistance at 10.5k before moving to 11-12k.
Weekly is in an interesting spot as not only its making lower lows but its also had a higher high - I expect this next high to be a higher high between 11.5-12k.
Will re-asses once price makes a move.
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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.