Hi everyone,
Thank you for considering reading my idea.
After the recent dump, it looks like we are consolidating at 38-39K and we are forming this bear flag or maybe a broadening wedge. We may pump up to 39.5k if we get supported on the bottom line of the flag. If we broke down off it, there are 3 targets:
1.) 38.5K
2.) 36.6K
3.) 34.8K
If we are conservative enough, maybe the first target would be more realistic.
Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Thank you for considering reading my idea.
After the recent dump, it looks like we are consolidating at 38-39K and we are forming this bear flag or maybe a broadening wedge. We may pump up to 39.5k if we get supported on the bottom line of the flag. If we broke down off it, there are 3 targets:
1.) 38.5K
2.) 36.6K
3.) 34.8K
If we are conservative enough, maybe the first target would be more realistic.
Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Note
First target reached. I had to adjust my targets based on the breakout point.
Note
2nd and 3rd target reached
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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.