On the hourly we can see that a nice ascending triangle is forming.
1/ We have confirmed 3 touches on the support and multiple flush touches on the horizontal resistance. I anticipate that this will be a small breakout given the overall bearish market.
2/ Given previous price action we could potentially test 8.5k but this will depend on buying power. If you...
We can see on the hourly that a bearish pennant has formed quite nicely - with 3 touches on the upper trend line and 2 now (awaiting this hourly close) on the support line. NB: trade will be negligible if candles fall outside of the pennant.
That said:
1/ Long from support line to overhead resistance 8.25k (if feeling risky, 8.4k) - this has nice confluence as...
Noticed this recent fractal which looks like its playing out. Historically 10.7k is a strong resistance. If fails to penetrate, we might see a retrace like previously.
