Everyone's been watching how this triangle resolved, and here we are. NOTE that oooold RSI
. We could have banged our heads against it but instead it's busted too. Still inside the 4H cloud, hugging the 200MA like a lifeline. Needs to solidly breach the cloud (could slide down the top a bit to 14,400 where the 0.382 fib is) before continuing to 17-18K zone (also the completion of this big ol' blue bearish gartley
). Expect looooots of moon talk and a continued rally to 25-50K. Not saying it can't, but us old timers have seen the bulltrap from the 2013 bubble and know how it can languish for a looong time before falling. Until we break a new ATH
-1.57% , can't take any moonshots too seriously from this position. Falling out of the bulltrap, should be watching the lower triangle rising trendlines
, which would have to collapse one by one, taking us to 9K. Of course the bulls will be pushing repeatedly on the top of the triangle, refusing to give up hope, which creates the long sideways slide before plummet.