BoomerangCap

BoomerangCap

At the moment the largest block of resistance price will encounter on the way back up is from 6750-6850. This lines up with the previous level of breakout and the .618 fib

BoomerangCap

After breaking below the 7.2k level decisively, we can now assume this level will act considerably as resistance on the way back up. Above $7.2k, the level that acted as resistance on the way up during the most recent uptrend at 7.8-7.6k. The .236 fib lines up with the horizontal level of previous resistance from 6.9-6.7k that gave price strong reactions...