THE NEXT BULL's ROAD MAP SCENARIOS (PART #3)
If we look at the weekly TF since prices fell from $2050 High to $1862 Low on the week of August 10, 2020, prices haven't been able to close below $1920 which was the 2011 High, and prices have continued to hover above $1920 until now.
In my previous analysis, I estimate that the week of September 14, 2020 (plus/minus 1 week) is the time to consider to buying back. But looking at last week's closing price at 1965ish, in my point of view, this is an early warning sign that buyers are starting to re-enter. therefore in the next week, I will start to re-book the flight seats with caution, because leg 3 is not completely complete (please see this chart : //s3.amazonaws.com/tradingview/snapshots/w/WbkuDNfX.png).
Flight failures may still occur, if plus/minus 1 week from September 14, 2020, the price can be closed below $1920/10, then this closing price may cause prices fall lower until September 28, 2020 or until October 19, 2020, but if there is no close below $1920/10 then the price may move up again until September 28, 2020 or until October 19, 2020 plus/minus 1 week (please see this chart :
//s3.amazonaws.com/tradingview/snapshots/v/Ve5prDHw.png.
Let's see how the bulls will react.
ooOoo From The Desk Of NewBie ooOoo
In my previous analysis, I estimate that the week of September 14, 2020 (plus/minus 1 week) is the time to consider to buying back. But looking at last week's closing price at 1965ish, in my point of view, this is an early warning sign that buyers are starting to re-enter. therefore in the next week, I will start to re-book the flight seats with caution, because leg 3 is not completely complete (please see this chart : //s3.amazonaws.com/tradingview/snapshots/w/WbkuDNfX.png).
Flight failures may still occur, if plus/minus 1 week from September 14, 2020, the price can be closed below $1920/10, then this closing price may cause prices fall lower until September 28, 2020 or until October 19, 2020, but if there is no close below $1920/10 then the price may move up again until September 28, 2020 or until October 19, 2020 plus/minus 1 week (please see this chart :
//s3.amazonaws.com/tradingview/snapshots/v/Ve5prDHw.png.
Let's see how the bulls will react.
ooOoo From The Desk Of NewBie ooOoo
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