As I said yesterday, the front run of our final target was a sign of weakness, making it likely that we were going lower.
Today, the VAH moved up, and we are now below it.
We are now hovering around the fib golden pocket.
Unless we reclaim the VAH, I expect lower, with the 1st targets being the new monthly level at 35k and then the POC at 34.2k
If we bounce from here, we have 2 fib golden pockets as resistance (marked on my chart) and if we break them we could also break the descending trendline then move higher.
Any questions?
Good luck traders
Remember not to break your rules
Habib
Today, the VAH moved up, and we are now below it.
We are now hovering around the fib golden pocket.
Unless we reclaim the VAH, I expect lower, with the 1st targets being the new monthly level at 35k and then the POC at 34.2k
If we bounce from here, we have 2 fib golden pockets as resistance (marked on my chart) and if we break them we could also break the descending trendline then move higher.
Any questions?
Good luck traders
Remember not to break your rules
Habib
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Related publications
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.