Oscillators
Silver- Obvious Head and Shoulder pattern, with great potential!Hi guys, today we are overlooking Silver (XAG/USD) with some great Technical analysis. Currently the overview is on a 1D time frame making this opportunity Mid-Term as to how much time we would expect it to reach it's destination.
Currently as we can see on the chart there has been a perfect formulation of the typical Head and Shoulders pattern. Additionally I would say on a shorter term the overall price has entered and formuilated a Descending Channel, which boost's our confidence in the price action that we are expecting. Additionally we are looking into the fundamentals so we can get the extra confidence in the price action that we are targeting.
Entry: 29.31
Target: 26.60 which is just above the Strong Support Level
Do let me know what you think about this analysis in the comments and what is your overview on this great Precious Metal.
LONG: Mahindra & Mahindra on the Rise: Targeting New Highs!🔍 Technical Analysis Report: NSE:M_M
Current Overview: 📈 NSE:M_M have shown a strong reversal from its recent low of ₹2,665.55. This recovery is significant as it has crossed the 0.382 Fibonacci retracement level, with the highest reference point being the level 1 Fibonacci at ₹3,214.95.
Key Observations:
Volume Analysis: Over the past 3-5 trading days, the stock has displayed consistent positive volume, indicating sustainable upward movement. 📊🔼
Critical Resistance: Since mid-June, the stock has been approaching a key resistance level. It briefly breached the 0.5 Fibonacci level yesterday but closed near the 0.382 Fibonacci level. 🚧
Price Movement: Today, the stock opened around the 0.382 Fibonacci level at ₹2,827.10 and is inching upwards. 📈
Technical Indicators:
MACD Analysis: The current MACD (Moving Average Convergence Divergence) shows an impending buying crossover. If market conditions stay favorable, we anticipate the MACD histogram turning green tomorrow, reinforcing the bullish trend. 🔄🟢
Target Levels:
🎯 First Target: ₹2,942.15
🎯 Second Target: ₹3,005.10
🚀 Extended Target (if resistance is broken): Around ₹3,100.00
Risk Management:
Primary Stop-Loss: ₹2,800.00 to protect against downside risk. ⚠️
Extended Stop-Loss: ₹2,720.85 for those accommodating broader market volatility. 📉
Conclusion: 🟢 If M&M opens in the green tomorrow, this will confirm the buying trend, potentially reaching the target levels mentioned above. However, cautious trading is advised, particularly around the set stop-loss thresholds, to manage inherent market risks effectively. ⚖️
#Hashtags: #MahindraAndMahindra #StockAnalysis #TechnicalAnalysis #FibonacciLevels #MACD #TradingInsights #StockMarketIndia #BullishTrend #InvestmentStrategy #RiskManagement #FinogentSolutions
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Trading and investing involve significant risk, and you should conduct your own research or consult with a financial advisor before making any investment decisions.
GALA 300% Next MovePrice is coiling up for the second half of this fractal pattern (Rally C) and I'm looking
at a bottom some time around February as the last pattern took off around the same time
The reason for this forecast to hit the Demand level again is because of the divergence move
seen on the Trend Reader, and the fractal pattern itself calls for a retest back to demand
Long term EMA is projecting flat readings for the future and this can also give us a signal for
price to slam back down.
Trend Reader
The Short Term Signal Line is racing back to the oversold zone and once the crossover takes effect we should see price shoot back up
Looking back at the Long Term Signal Line its projecting that long term momentum is dying off
and that after we hit this next high we can expect price to selloff like shown before with
the last divergence pattern.
Targets
7.7 Cents
13 Cents
16 Cents
AMD Finishing a 1-2 1-2 with ending diag and bullish divergence Current count looks like a 1-2 1-2 finishing out w-c of W-2 with an ending diagonal. With waves 3 and 5 of the diagonal creating bullish divergence. Looking to go up from here! Could end up seeing another 1-2. Invalidation is pretty close.
Alternate count is much more bearish.
FTSE - recovery jump after strong sell offHi guys, we are looking into the FTSE 100 ,currently it is sitting in a very oversold area on 1H and 4H time frames, so I am analysing a short term up-beta momentum.
Entry : 8,109
Target : 8,232
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
EUR/AUD Change of structure, time for correction.Hi guys today we are analysing the EUR/AUD currently it has broken out of an ascending channel formulating a correction / consololidation on the previous support level at 1.65500.
Additionally we can se that the RSI at least on 4H has already entered a descending channel indicating that the price is going to drop down.
Entry 1.66500
Target 1.65500
We are chasing 100 pips here, then if it continues we will revisit this analysis and look into a further drop.
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my community so you can follow up with me in private!
Raymond 1 d chart signalling price action Raymond is looking in the uptrend after making a low near 1326. It is reversing from there on daily chart .
Ascending triangle pattern is forming and is about to complete the same .
Volume is Supporting in this uptrend .
RSI momentum is showing intact with higher high with Price in conjunction. Both are in same tandem . Signaling bullish momentum.
If price closed above 1829 on daily chart further bullish Moment can be expected .
If price closed below 1428 on daily chart further bearish Moment can be expected .
Daily Market Review and Analysis for BTC: January 1, 2025#BTC (Daily Chart)
The cryptocurrency market capitalization has dropped by 2.5% over the past 24 hours, while #BTC dominance fell by 0.47%. Despite the bullish momentum, there is a growing likelihood of Bitcoin dropping to the $90,000 zone or lower.
Bitcoin’s upward movement was halted by intensified selling pressure near $95,000. Buyers failed to hold the $94,500 level, resulting in a price decline to around $91,600.
It’s worth noting that Bitcoin’s price on the daily timeframe is approaching the lower Bollinger Band, which is positioned above the seller liquidity zone.
In the short term, another attempt to test the $96,000 level is likely. However, it’s more probable that a new wave of decline will follow, targeting $90,500. This would trigger stop-losses for long positions (SSL) and push the price to a local low in the $89,000–$90,000 range.
From this point, a local upward trend could resume, targeting $96,963, where buyers’ stop-losses (BSL) are located. If this condition is met, Bitcoin could rally to $104,000.
That said, it’s too early to make global bullish predictions. Bitcoin first needs to clear key levels and stop-loss zones at $90,500 (the nearest realistic target) and $88,722.
The quickening of #BTC RSI & price extremes!I don't make the rules.
:)
We are just surfing the waves of emotions,
of the crowds.
Here we have Monthly line chart with the RSI
It clearly shows a quickening of the trend and how the 4 year cycle is likely to fail this time around.
It is too well know as a theory and will be front ran.
(in my opinion)
We should get a RSI peak at this rate, around May (could be June ofc)
and second lower peak around November (or DEC )
As always good luck in your speculations
#Crypto's are highly speculative instruments as we all know
During these tops you will be told many stories
you must have the wherewith-all to ignore the noise.
Whether the bottom section will be formed is the key
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Happy New Year.
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(USDT 1D chart)
USDT appears to have turned into a gap downtrend.
If it does not rise quickly, the coin market is expected to show a sharp decline.
(USDC 1D chart)
Fortunately, USDC is maintaining a gap uptrend, so there seems to be a possibility of price defense to some extent.
However, since USDC has a lower influence on the coin market than USDT, if USDT maintains a gap downtrend, the coin market is expected to eventually show a decline.
What we need to do is check the stop loss point of the coin (token) we currently hold rather than increasing new transactions and think about how much we should cut loss.
(BTCUSDT 1D chart)
The point to watch is whether the movement of BTC is as updated last time.
If the HA-Low indicator is created, it means that the current wave is finished and a new wave is starting, so whether there is support is an important key.
There is a possibility that the HA-Low indicator will fall after being created and show a stepwise downtrend, but the fact that the HA-Low indicator was created means that it is ultimately forming a bottom section, so it is a time to buy.
-
Thank you for reading to the end.
I hope you have a successful transaction.
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- Big picture
I used TradingView's INDEX chart to check the entire section of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.
Accordingly, the bull market is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, we can see that the increase is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we do not expect to see prices below 44K-48K in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
That is, the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, this Fibonacci ratio is expected to be used until 2026.
-
No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to it.
Since there is no support or resistance point when the ATH is updated, the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as a support and resistance role.
The reason is that the user must directly select the important selection points required to create the Fibonacci.
Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, but it can be seen as ambiguous for use in trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
-----------------
EURCHF Wave Analysis 31 December 2024
- EURCHF reversed from resistance zone
- Likely to fall to support level 0.9350
EURCHF currency pair today reversed down from the resistance area located between pivotal resistance level 0.9430 (which has been steadily reversing the price from the start of October) intersecting with the upper daily Bollinger Band.
The downward reversal from the resistance level 0.9430 will create the daily Shooting Star candlesticks reversal pattern – if the pair closes today near the current levels.
Given the predominant daily downtrend, EURCHF currency pair can be expected to fall to the next support level 0.9350.
Technical Analysis: Bitcoin (BTC) – Regular Bearish DivergenceTechnical Analysis: Bitcoin (BTC) – Regular Bearish Divergence
Hello!
T he recent technical analysis for Bitcoin (BTC) highlights the presence of a regular bearish divergence between the price and the Relative Strength Index (RSI) indicator. This divergence, marked by the yellow lines on the chart, signals a potential reversal in the short-term trend and suggests a bearish outlook for the coming days or weeks.
Understanding the Divergence
A regular bearish divergence occurs when the price of an asset forms higher highs, while the RSI forms lower highs. This indicates weakening momentum, even as the price reaches new peaks. The yellow lines on the TradingView chart clearly illustrate this pattern for Bitcoin.
Price Action: Bitcoin has recorded higher highs on the price chart.
RSI Behavior: The RSI indicator, however, has failed to mirror this pattern, instead forming lower highs. This discrepancy points to diminishing bullish momentum and the likelihood of an upcoming price correction.
Short-Term Bearish Implications
Given the regular bearish divergence, Bitcoin’s price is expected to experience a pullback in the short term. Traders should be cautious, as this divergence often precedes a period of downward movement. Key support levels, such as $93,000 and $92,000, should be monitored closely to assess the depth of the correction.
Long-Term Bullish Outlook
While the short-term trend leans bearish, the long-term perspective for Bitcoin remains bullish. Several macroeconomic factors, including increasing institutional adoption, favorable regulatory developments, and a growing use case for cryptocurrencies, continue to support the long-term upward trajectory of BTC. This macroeconomic backdrop suggests that any short-term price corrections could present buying opportunities for long-term investors.
Key Takeaways
The yellow lines on the TradingView chart highlight a regular bearish divergence between Bitcoin’s price and the RSI indicator.
This divergence signals a likely short-term bearish trend, with a potential price correction on the horizon.
Long-term trends remain bullish, supported by macroeconomic factors and Bitcoin’s robust fundamentals.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
Regards,
Ely
Bitcoin: The Cyclic Pattern Unfolding Again?Analyzing the current BTC weekly chart reveals striking similarities to the past, specifically the cycle seen at the end of 2023 and the beginning of 2024. Let’s break it down step by step.
1. Price Movement Comparison
Late 2023 vs. Late 2024: At the end of 2023, Bitcoin experienced a sharp rally of around 65%, moving from the lows to a significant peak. Fast forward to late 2024, and we see a nearly identical pattern—again, approximately 65% growth from the bottom to the recent high. The symmetry is hard to ignore.
2. WaveFlow Indicator
On both occasions, the WaveFlow indicator paints an eerily similar picture. It shows a strong push from the lows to the highs, followed by an expected pullback before another rally. If history repeats itself, the current setup implies that BTC will form a second peak following an intermediate bottom in the near term.
3. PrimeMomentum Long-Term Signal
The red diamond signal from the PrimeMomentum Long-Term Signal BTC indicator appears in a nearly identical spot:
The beginning of 2024: Red diamond signaled a top before a significant correction.
Late 2024: The same signal has just appeared, aligning with a possible cyclical correction phase.
4. PrimeMomentum Oscillator
At the bottom of the chart, the PrimeMomentum oscillator shows behavior that mirrors the end of 2023. This resemblance reinforces the idea that Bitcoin’s price action is following a cyclic pattern.
5. Expectations and Forecast
January Correction: Based on these indicators and historical patterns, we anticipate a pullback at the beginning of January 2025, targeting a mid-range consolidation or support zone.
February–March Rally: Following the correction in the second half of January, a rally is expected, peaking around March 2025, similar to early 2024’s price action.
Post-March Decline: After March, we could see another downward phase, mirroring the price behavior in mid-2024.
Conclusion: The Power of Cyclicality
This chart showcases the undeniable rhythm of Bitcoin’s cyclicality. Indicators like WaveFlow and PrimeMomentum provide clear parallels between the current market state and historical movements. If the cycle repeats as expected:
Short-Term: Prepare for a correction.
Mid-Term: Watch for a strong rally.
Long-Term: Plan for another cyclical downturn.
The data strongly suggests that Bitcoin’s market structure continues to adhere to predictable cyclical trends. With this knowledge, traders can better anticipate key market movements and position themselves accordingly.
SENDAI - BUY ON DIP ?SENDAI - CURRENT PRICE : RM0.570
SENDAI is uptrend for long term view as the share price is trading above 200-day EMA. In short and medium term the trend is sideways. However, I expect the stock may trend higher in the upcoming sessions as there are several bullish scenario appears on the chart.
i) The share price manage to breakout 50-day EMA
ii) Price bounce from support level of ICHIMOKU CLOUD indicates that buying interest is sufficiently strong to overcome selling pressure
iii) CHIKOU SPAN also manage to bounce from CLOUD support level
iv) RSI (above 50) heading upwards and stochastic oscillator is in oversold zone
v) High trading volume than previous sessions.
Technically it is a BUY ON DIP for this stock.
ENTRY PRICE : RM0.560 - RM0.575
TARGET PRICE : RM0.625 and RM0.690
STOP LOSS : RM0.530
TAYOR !
Important Support and Resistance Areas: 3265.0-3321.30
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(ETHUSDT 1D chart)
In this period of volatility, the key is whether it can find support near 3265.0-3321.30 and rise above 3644.71.
If not,
1st: M-Signal on 1W chart
2nd: M-Signal on 1M chart
You should check for support near the 1st and 2nd above.
-
When the decline progresses, if the HA-Low indicator of the 1D chart is generated, it is important to see if there is support near it.
The reason is that the movement to close the current wave and create a new wave will begin.
If it falls below the M-Signal indicator of the 1M chart and shows resistance, there is a possibility that it will turn into a downtrend in the long term, so you should think about a response plan for this.
If it receives support near the M-Signal indicator of the 1M chart and rises, the gap between the M-Signal indicator of the 1W chart and the M-Signal indicator of the 1D chart will decrease, so there is a possibility that a large wave will be created when rising.
Therefore, we should look at what it will look like after this volatility period.
Currently, the StochRSI indicator is located near the 50 point, so there is a possibility of volatility, so caution is required when trading.
-
Once this volatility ends, the next volatility period for ETH is expected to be around January 22.
However, since the next volatility period for BTC is around January 10th, we will have to see what kind of movement it will show at that time.
-
Thank you for reading to the end.
I hope you have a successful trade.
--------------------------------------------------
- Big picture
I used TradingView's INDEX chart to check the entire range of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.
Accordingly, the upward trend is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, we can see that the upward trend is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, it is expected that prices below 44K-48K will not be seen in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
In other words, it is the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, it is expected that this Fibonacci ratio will be used until 2026.
-
No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to this.
If the ATH is renewed, there are no support and resistance points, so the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as support and resistance.
The reason is that the user must directly select the important selection points required to generate Fibonacci.
Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous to use it for trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
-----------------
About BTC Analysis and Averaging Down...
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-------------------------------------
(USDT 1D chart)
I think USDT provides funds that support the coin market.
Therefore, it has a big impact on the coin market.
If this USDT gap continues to decline, I think the coin market is likely to turn into a downtrend.
I think the gap decline of USDT or USDC is a sign that funds are flowing out of the coin market.
(USDC 1D chart)
I think that the current continuous inflow of funds into USDC is preventing the coin market from turning into a downtrend.
However, I think that the impact of USDC on the coin market will be short-term because it has a lower impact than USDT.
USDC cannot form a USDC market on exchanges around the world, so it cannot help but have a lower impact than USDT.
Therefore, when USDT maintains a gap downtrend, if USDC also shows a gap downtrend, the coin market is expected to show a large decline.
----------------------------------------
(BTCUSDT 1W chart)
As a new candle is created, the HA-High indicator on the 1W chart will be created at the 94742.35 point.
Accordingly, the support around 94742.35 is an important issue.
If it falls without support,
1st: 87.8K-89K
2nd: 79.9K-80K
You should check the support around the 1st and 2nd above.
However, since the M-Signal indicator on the 1W chart is rising around 83.6K, it is important to check whether there is support when the M-Signal indicator on the 1W chart is touched.
-
(1D chart)
After passing the volatility period around December 27, it eventually reached the lower part of the sideways section.
Therefore, even if it continues to fall further, the key is whether it can touch the 92K-93.5K area and rise above 94742.35.
The next volatility period is expected to be around January 10, 2025.
-------------------------------------------
When the average purchase price falls below the average purchase price, it is best to cut your loss at the cut-off point.
However, from a mid- to long-term investment perspective, there are cases where you cannot cut your loss unconditionally just because the price falls, and you may have missed the time to respond.
In this case, you should eventually purchase more to lower the average purchase price and sell when it rebounds.
This is called averaging down.
The basic principle of averaging down is that you must purchase more than the current purchase principal.
(Usually in the stock market, you purchase more than the number of shares you currently own.)
Since decimal trading is possible in the coin market, there is an advantage of being able to purchase the purchase principal amount rather than the number of coins (tokens) you own.
In that case, the average purchase price will fall more than you think.
Therefore, in the coin market, having cash is very important.
If you have spare funds (cash), you can cut losses between 50% and 100% of the purchase principal when the price falls below the cut-off point, or you can respond without cutting losses at all.
If you do not have spare funds (cash), you should cut losses near the cut-off point.
At this time, it is important to secure cash by selling more than 50% of the purchase principal.
-
If you can manage your investment ratio as explained above, the next important thing is when to make additional purchases.
If you bought when the price fell by -10% as I mentioned in the previous "Example of how to trade without being able to analyze charts" idea, then when the price falls by -10% again, it is the time to make additional purchases.
Instead, you should purchase additional stocks that you bought according to your own standards when the price rebounds, lower the average purchase price, and then sell them when the price rebounds.
In other words, the additional funds purchased must be sold when the price rebounds.
Otherwise, when it falls below the average purchase price again, the funds for the next additional purchase will increase significantly, so you will end up giving up without doing anything.
The important thing here is to know how much the original purchase principal was before you start averaging down.
The reason is that when you purchase additionally and then rebound and sell the amount of the additional funds purchased, the number of coins (tokens) remaining may change.
If you purchase additionally and the price rebounds, but it does not rise above the average purchase price and shows signs of falling, it is considered a loss from the overall trading perspective.
However, since you sell the amount of the additional purchase when the price rebounds, it is likely to be a profit when looking at the average purchase price of the additional purchase.
In other words, the coins (tokens) for that profit will remain.
Therefore, if you do not know the original purchase principal, you may end up investing excessive funds the next time you purchase additional funds.
Excessive investment of funds can eventually be applied due to psychological anxiety and pressure, which can cause you to make inappropriate transactions.
I will publish how to select the timing of additional purchases when I have the next opportunity.
However, you should select it by looking at the movements of the StochRSI, BW, DOM auxiliary indicators added to this chart and the M-Signal indicators on the 1D, 1W, and 1M charts.
At this time, if there are support and resistance points drawn on the 1M, 1W, and 1D charts, you can trade based on whether there is support or not.
Since the MS-Signal indicator on this chart is the standard for trend reversal, you can use it.
However, it is recommended to proceed with additional purchases based on the 1D chart.
-
Thank you for reading to the end.
I hope you have a successful transaction.
--------------------------------------------------
- Big picture
I used TradingView's INDEX chart to check the entire section of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.
Accordingly, the bull market is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, we can see that the increase is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we do not expect to see prices below 44K-48K in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
That is, the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, this Fibonacci ratio is expected to be used until 2026.
-
No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to it.
Since there is no support or resistance point when the ATH is updated, the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as a support and resistance role.
The reason is that the user must directly select the important selection points required to create the Fibonacci.
Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, but it can be seen as ambiguous for use in trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
-----------------
USDCAD Wave Analysis 30 December 2024
- USDCAD reversed from resistance zone
- Likely to fall to support level 1.4400
USDCAD currency pair recently reversed down from the resistance zone surrounding the major long-term resistance level 1.4400 (which stopped the sharp uptrend at the start of 2020) intersecting with the upper weekly Bollinger Band.
The downward reversal from the resistance level 1.4400 stopped the previous medium-term impulse wave (5).
Given the strength of the support level 1.4400 and the overbought reading on the weekly Stochastic indicator, USDCAD currency pair can be expected to fall to the next support level 1.4315.
BAC | BIG Drop for Next YearSimilar distribution pattern to 2022 Feb drop, price continues to make Higher Highs and indicators make Lower Highs while trading in overbought zones
Dont think its the best time to invest but to rather Trade instead with how high price is.
I'm looking at about 40% in price fall by February like the last time but for now long positions may be better at $43, and then price topping out at $50.
To prolong this pattern but not necessarily invalidate it I need to see a breakout above $50 and some type of quick retest with price action overshooting to the high end of the Major Resistance Zone $55, then we can end up seeing more than a 40% drop.