THE BATTLE OF THE CHANNELS! (with supports and resistances)
If we break out of the descending channel (made from the 20K and 17K peaks), then the next resistance will likely be 12K. If the descending channel wins, then the ascending channel's (made from the 6K low) lower bound will act as resistance. If that is broken, then we will fall to the 10K resistance, where it may rebound and have a chance to break out again. If that falls, it's not unlikely that we will fall to 8.5K.
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.