Higher probability area for pivot into a bearish impulse
Updated
We are once again testing this rather steep bullish impulse's trend support at the same time as we interact with historically significant moving averages displayed on my chart.
If we sustain price action below it, we could see a push back down to range support around 60k-62k over the next week or two.
We may have to see a topping pattern before we make a local lower high on the 4h; perhaps a slight push higher first as the top of a H&S pattern.
As seen on a daily chart zooming out to see all the way back to the market bottom, we can see a major trend line is likely to be touched at some point again. The next time could likely be as we confirm the next floor to yeet up off of. 🚀potentially at 60k as marked on the daily chart below.
If we sustain price action below it, we could see a push back down to range support around 60k-62k over the next week or two.
We may have to see a topping pattern before we make a local lower high on the 4h; perhaps a slight push higher first as the top of a H&S pattern.
As seen on a daily chart zooming out to see all the way back to the market bottom, we can see a major trend line is likely to be touched at some point again. The next time could likely be as we confirm the next floor to yeet up off of. 🚀potentially at 60k as marked on the daily chart below.
Note
Price action continues sideways as we've broken that local 4h trend support; view from the 15m chart:Trade closed manually
60-62k support target hit!
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