Applying Fibonacci levels to the robust bullish push that began August 31st, I see the expected support/resistance patterns at the predictable Fib levels, all the way to the psychological $4000 price. This is very normal and predictable bull market movement.
Note the falling wedge pattern that developed today. A falling wedge in a bullish trend is a great opportunity to scalp a few bucks (if you're an experienced trader, that is). I expect a breakout within the next 24 hours that will retest the $4000 level at minimum. Might blow right through it too, who knows?
A common indicator that a falling wedge is about to breakout is falling volume as the market consolidates. A spike in volume after it breaks out is a good sign that a larger move is imminent.
I welcome your comments and wish you good luck!
Note the falling wedge pattern that developed today. A falling wedge in a bullish trend is a great opportunity to scalp a few bucks (if you're an experienced trader, that is). I expect a breakout within the next 24 hours that will retest the $4000 level at minimum. Might blow right through it too, who knows?
A common indicator that a falling wedge is about to breakout is falling volume as the market consolidates. A spike in volume after it breaks out is a good sign that a larger move is imminent.
I welcome your comments and wish you good luck!
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.