After the last weekly impulse we need to esablish some lower TF structure. Best to zoom out for sanity. This ranging might be tighter as we coil for a mega impulse move up through 50k to the 3.618 extension at ~$64-65k.
Key notes:
Trend channel established
Bull market until trend channel broken
Fib extensions providing nice weekly target and ranges
Things might get choppy in this range
News beats TA - a big announcement could easily propel the market to over 50k
Don't short you will get rekt!!
Buy established support and only use margin when there is a confirmation
Be patient and wait - the last impulse from 33k-47k took three weeks to establish itself
Trade active
We went long last week and we are now out of the channel. Next stop 65K
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