Zoomed in closely on the Daily chart, price is now on its final third push higher into MAJOR,MAJOR Channel resistance with not very much room left to go.
I have been saying February 13th as the top and so far it is playing out nicely. I am already short at 38,760 since the near close of yesterday. I am a bit early but not by much. I decided to go with it since I am extremely confident in this trade. From 38,900 down to 21,500.
On the weekly, this week is forming a bull hammer up in space, a key sign of a reversal. The tail portion of the bull hammer when up high is fuel for a long squeeze.
The target area is the monthly rising 200sma at demand, price area 21,500-23,000
I have been saying February 13th as the top and so far it is playing out nicely. I am already short at 38,760 since the near close of yesterday. I am a bit early but not by much. I decided to go with it since I am extremely confident in this trade. From 38,900 down to 21,500.
On the weekly, this week is forming a bull hammer up in space, a key sign of a reversal. The tail portion of the bull hammer when up high is fuel for a long squeeze.
The target area is the monthly rising 200sma at demand, price area 21,500-23,000
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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.