Seems like we are repeating the same pattern that moves us up from 38500 to 73k but this time in the reverse order
Note
Copying same fractal but making it upside down , seems like we are going down for next 10-15 daysNote
Monthly uptrend and fib levels are also around 48k , we are probably heading toward 45-48k in the next 2 weeks and then we may see a new range forming thereNote
If it puts two legs with the same ratio before the end of the move we will probably see 47k. Everything in alignment to touch 48kNote
Daily M pattern can also take us back to 47kNote
bottom of 4h trend line will also be at 48k in next 12daysNote
Price cant move above previous daily range lows at 56500, Entering a short position here with stop loss above the daily moving average at 58kNote
price also making a descending broadening wedge which is extremely bullish, guess what? the lower line in the next 2 weeks will also be around 48k, by bouncing from that we will have a 95 targets in the next couple of monthsNote
Next horizontal support from prev range is also between 47-50kNote
The next probable bounce area for the weekly chart is SMA 50 at 47.5k or EMA 50 at 51.5k Note
Retesting the last daily trend line that connects 28k to 38.5k, I will close my short trade if the daily closes above this line. Note
nice, rejection happened at daily 200 SMA, EMA, and the previously mentioned trend line from 28500, now if it successfully goes below 56500 we can expect a highway toward 48kNote
a nice weekly close below 56k, but if the fractal is working, and a Similar move happens we might see some sort of short squeeze soon before going down ( today or tomorrow) Note
yeap liquidation event happened as expected and now we are starting the real downtrend, say hello to 48k Trade closed manually
pattern deviated a lot , closed manually switched to buy position
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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.