personthing19

personthing19

We tapped the .786 retracement of last daily leg, meaning now a pullback down to the 10.8-11.2 region would make sense. Alternatively, we could range here for a few days and then push onward...

personthing19

Ascending wedge will force break up or down in next ~6 hours. Small break down to 11.5-11.7 is likely before breaking 12k. 12k may not hold for long though, due to large resistance.

personthing19

A small pull back to confirm 11.5 as support would be consistent with previous legs of this parabolic rise.

personthing19

Rejection at 12k makes sense, but bears have been largely absent, so until confirmation of reversal shorting here is risky.

personthing19

Test of previous swing high is probable. Possibly around daily close, if not tomorrow.

personthing19

Despite being overextended, there is no sign of Bears in sight, so we will now flip to bullish bias.

personthing19

Current bull leg is overextended. Test of 10.8k likely to fail (assuming overall correction is not complete). Expect retest of 9.5 within a week.

personthing19

Breaching 11.2k would invalidate bear trend, which has been strong for > 1 month. If final low not in, this is unlikely, as would fomo too many and make bearish reversal more expensive for whales. Therefore, bearish bias still in tact.

personthing19

Expecting retest of 9.9k. If we find support here, then subsequent attack of 10.5k region is likely. Else, continue down towards 9k. Close above 10.2k is bullish, under 9.8k is bearish.

personthing19

Expecting that once 9.4k is breached break of 9k will be imminent. Structure is very ugly and disjointed, therefore more bearish action is still probable.

personthing19

0.618 retracement complete, expect break of 9k, with likely bounce around 8.8k. Invalidated with breach of 9.9k.

personthing19

Yesterday's fake out delayed attack of 9k, expecting continuation shortly. Probable bounce above 8.7k.

personthing19

Bearish divergence with volume + ascending wedge = impending test of 9k.

personthing19

May pull back a bit before attacking 9k, but recent history favor "barting" style movement instead. So expect ranging following by sudden movement.

personthing19

Likely to range before attacking 9k. A bit of a pullback is possible before then, but likely not much, as bulls have been weak and the current 4 hourly leg is too short to be complete at this point.

personthing19

Expecting new wedge to form with flat base at 9k. Will likely at least test 9k before breaking up out of wedge.

personthing19 Updated 

Possible break out of large wedge, likely rejection circa 10.5k with long anticipated plunge below 5k soon thereafter.

personthing19

This projection is also supported by trend analysis.