I see a potential descending triangle forming as part of the greater bear trend. Bottom line is obviously not totally clean, but we are talking maybe a $50 difference on record high margin positions. Still feels more descending triangle than symmetrical like I've seen posted.
I also see some consolidation fractals here measured to similar fibs.
1) Price dump
2) Falling parallel channel reversal
3) Rising wedge to .618 fib upside
4) Repeat 1-3
Target is measuring the first move down I suppose, ~ mid 5k. Stop losses if bearish trendline / triangle breaks up.
If the "Tax Season Sell-Off" fundamental is real, I would expect this would count as a last day sell-off since April 17 is the deadline and people would need 24 hours to wire. I put the last bounce outside of some longer trendlines because it is amusing to think of an evil MM & Judas candles.
I also see some consolidation fractals here measured to similar fibs.
1) Price dump
2) Falling parallel channel reversal
3) Rising wedge to .618 fib upside
4) Repeat 1-3
Target is measuring the first move down I suppose, ~ mid 5k. Stop losses if bearish trendline / triangle breaks up.
If the "Tax Season Sell-Off" fundamental is real, I would expect this would count as a last day sell-off since April 17 is the deadline and people would need 24 hours to wire. I put the last bounce outside of some longer trendlines because it is amusing to think of an evil MM & Judas candles.
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.