1. Bounced off of low-of-the-day inverse cup and handle lid (purple line)
2. Finally broke the mid-term Fibonacci resistance with strong volume.
3. Currently trading around and retesting close-of-the-day inverse cup and handle. (orange)
4. No resistance upto 50 day moving average.
Resistance:
1. 50-day moving average $8570 as of today
2. Mid-term top trend $9000 as of today (If broken, Mid-term (4-month) bear trend reverses to bull trend!)
3. Log-term Fibonacci (68%) $9500 as of today
4. 200-day moving average $9600 as of today
5. Previous Resistance $11250
Support:
1. close-of-the-day inverse cup and handle $7920 as of today
2. Mid-term (4months) Fibonacci (68%) (which was a strong resistance previously) $6880 as of today
3.low-of-the-day inverse cup and handle. $6500 as of today
4. Mid-term (4 months) Fibonacci (32%) - $5000 as of today
5. Mid-term bottom trend - $3850 as of today
My idea:
1. Resistance #1 hits
2. Retest Support #1
3. Breaks resistance #1 & Bounce off of resistance #2.
4a) if falls below, 50-day moving average again, expect it to drop to Support #2
4b) if breaks, Resistance #2, shoots straight up to resistance #3 & #4 area which would act as double (strong) resistance.
2. Finally broke the mid-term Fibonacci resistance with strong volume.
3. Currently trading around and retesting close-of-the-day inverse cup and handle. (orange)
4. No resistance upto 50 day moving average.
Resistance:
1. 50-day moving average $8570 as of today
2. Mid-term top trend $9000 as of today (If broken, Mid-term (4-month) bear trend reverses to bull trend!)
3. Log-term Fibonacci (68%) $9500 as of today
4. 200-day moving average $9600 as of today
5. Previous Resistance $11250
Support:
1. close-of-the-day inverse cup and handle $7920 as of today
2. Mid-term (4months) Fibonacci (68%) (which was a strong resistance previously) $6880 as of today
3.low-of-the-day inverse cup and handle. $6500 as of today
4. Mid-term (4 months) Fibonacci (32%) - $5000 as of today
5. Mid-term bottom trend - $3850 as of today
My idea:
1. Resistance #1 hits
2. Retest Support #1
3. Breaks resistance #1 & Bounce off of resistance #2.
4a) if falls below, 50-day moving average again, expect it to drop to Support #2
4b) if breaks, Resistance #2, shoots straight up to resistance #3 & #4 area which would act as double (strong) resistance.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.