After dropping below the $100,000 and printing a lower low we can say that there will be a test to that low and probably will breach it, but before doing that it will go and test the $102725 - $103500 area to complete its 1hr Bullish TIME Cycle.
A break to the ATHs still on the table, remember that the ATHs is on the weekly chart and
that hasn't changed at all, only a break to the $74000 low will change the structure of the
Weekly chart. Once the 4hrs Bullish TIME Cycle sets up for a bounce we will start seeing higher highs again but for now the 30min and 1hr TIME Cycles will be playing out.
We'll follow the move with updates so stay tuned.
A break to the ATHs still on the table, remember that the ATHs is on the weekly chart and
that hasn't changed at all, only a break to the $74000 low will change the structure of the
Weekly chart. Once the 4hrs Bullish TIME Cycle sets up for a bounce we will start seeing higher highs again but for now the 30min and 1hr TIME Cycles will be playing out.
We'll follow the move with updates so stay tuned.
Note
From the 30min and 1hr TFs pov still have steam to push price a bit higher. How high? probably around $105k, But make NO MISTAKE that eventually it will go and try to test the $98k low at least one more time once the 1hr Bullish Cycle is completed. imo
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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.