12-hr with all currently relevant trend lines
THE BULLISH SCENARIO: If we close a 12-hr candle above the pink horizontal trendline we will retest the top blue slanting trendline. If we get rejected from that blue slanting trendline we will come back to test the pink horizontal. If we break above blue trendline and close a 12-hr candle above it, we will retest the black trendline marking the bottom of the big upward channel. If we get rejected from that we'll retest top blue trendline. If we break back into channel and start closing 12-hr candles inside of it, we'll retest top black trendline/top of big upward channel.
THE BEARISH SCENARIO: If we can't get back above pink trendline we will retest orange trendline. If we break under orange trendline and close a 12-hr under it, we'll retest bottom of downward channel/lower blue trendline. If we break through that trendline, we will dump to upper 7ks (lower horizontal pink line).
That's it. Nothing sexy here. No doom or gloom. No "We're going to 100k!!" or "ARE WE HEADED BACK TO 3K?" Just the basic realities of trendlines and trading. Take it or leave it.
Cheers.
THE BEARISH SCENARIO: If we can't get back above pink trendline we will retest orange trendline. If we break under orange trendline and close a 12-hr under it, we'll retest bottom of downward channel/lower blue trendline. If we break through that trendline, we will dump to upper 7ks (lower horizontal pink line).
That's it. Nothing sexy here. No doom or gloom. No "We're going to 100k!!" or "ARE WE HEADED BACK TO 3K?" Just the basic realities of trendlines and trading. Take it or leave it.
Cheers.
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