Shorttermbearish
3 SCEANRIOS WITH LONG TERM BULLISH BIAS - YOU DECIDE 10500 is a historical resistance that we've already been rejected from.
7800 - 8100 is needed in order for the structural integrity to be maintained in a healthy way.
Ever since 10k we've slowly bled all the way to 9k (where we're currently stuck under 9300 and above 8800 support.
In my view of perspective, market makers & exchanges cooperate with each other in order to push price up higher to trap new traders into thinking it'll break the 10k historical resistance. Is this still possible? OF COURSE. Is this the trade I'd take? Nope, I'd rather wait til 10000 held on a daily candle before even considering bullish bias.
It's easier for whales to dump the price $1400 to $7800 then it would be to break the historical resistance at 10500.(where my bias is originating from)
In conclusion, I've created 3 scenarios for price action to lead towards. Why?
I want you guys to read the chart and make your own bias! I'm here to create the visuals to help you see key area's.
BUT it's your job as traders to do what works for you!
Either see you guys below 9000 or above 9300.
VET Resistance 153- 160 sat, H&S Target, Edge of Channel, Short Target for inverse H&S almost reached. Approaching edge of channel in confluence with the 0.5 FIB & the 3rd wave 1.618 projection (see linked ideas below)
Never Trust. Verify.
DYOR. Not Financial Advice Just an Observation.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
SPCE Time for a Little Risk Off Pullback to the 8day MAPurely speculation here, but with earnings 11 days away I can see this pulling back a little bit maybe down do $22 prior to earnings. (There are none). This is a hopium/growth speculation for most out there. Broke out recently because people reaching for growth.
