As you can see both these moves are almost identical. If 
39K can hold this could be used as a platform to move upwards (essentially 
52K down to 39K would have been the correction leg). However if we lose 39K then we should see $29k. If so take a look at the chart 'Year to date' (YTD). You'll notice it would have cleared formed a lower high (assuming we lose 39K). My assumption is we will then start to form a descending triangle (YTD). Before breaking down to $20k. If you follow me on CT I'll share an image in the comments of how I believe it will play out.
39K can hold this could be used as a platform to move upwards (essentially 52K down to 39K would have been the correction leg). However if we lose 39K then we should see $29k. If so take a look at the chart 'Year to date' (YTD). You'll notice it would have cleared formed a lower high (assuming we lose 39K). My assumption is we will then start to form a descending triangle (YTD). Before breaking down to $20k. If you follow me on CT I'll share an image in the comments of how I believe it will play 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.