Due to accumulation structure it will get one more pop before the drop to ~12-13k
By end of Jan :
min target = 18898
Goal target = 19715
max target = 21781
After hitting target it will test 16440, which is an important level it held as support over last few weeks and changed the near term perspective from bearish to bullish. Upon retest, likely in Feb a breakdown will indicate the final capitulation is about to begin
By end of Jan :
min target = 18898
Goal target = 19715
max target = 21781
After hitting target it will test 16440, which is an important level it held as support over last few weeks and changed the near term perspective from bearish to bullish. Upon retest, likely in Feb a breakdown will indicate the final capitulation is about to begin
Note
Hit min target of 18898. Watch for continuation to 19715, could consolidate here firstNote
Goal target of 19715 hit, done went parabolicNote
Could pullback to test 18899 for support - if holds will run to 21781-25999 region.Note
Expecting next leg up to continue from here (negates the 18899 pullback warning) - next target = 23484-24277Note
Posted a follow up idea with longer term projection once this finishes playing out
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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.