One more trip to low $60Ks. Then Off To The Races.

One possible scenario I'm watching.
One more little dump within the current range, just to confuse and frustrate everyone and try to get a few more cheap sats out of us.
Then convergence of the bull flag and inverse head and shoulders... rip upwards.
Target $90,800.

Note

Well it didn't go down all the way to the support I was watching for, and now it's pushing right against the resistance line at $71,300.

If it breaks this resistance, it has an excellent chance to break out of the range and explore new all time highs, expected to go at least into the mid $80Ks.

Note

There's the touch on support at
Later than I expected but if we're going to rally, it needs to happen next week and break through resistance at $71K. If it does, look out for new all time highs. If not, the drop would be to the next major support in the $50Ks at least.

Note

Price has broken below my long term support line. There is currently a bounce back to about $65,500, but it's still under the support line, now turned resistance.

As much as I hate to do it, I now turn my highest probability expectations to BEARISH, with an expected retest of support around $56K.

Note

Bearish calls in the above comments were correct.

There was a spring-like bounce from a low around $58,400, now back up to $61,500.

I don't think we are confirmed out of bearish territory yet. This is very much a situation where we wait and see the next move. I am accumulating at and below, with understanding it may go even lower to test $56K and then $50K, or it may break Bullish again from here and come out from this range entirely.

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