So I have this thesis:
Since march's crash, the demand trendline has been the green one (I drew two because I used both line and bars).
The yellow line is a supply line. When both, supply and demand, trendlines cross there's a bull run. Try it on several time frames and it is true.
There's nothing invalidating the demand trendline, so I assume it as a true trend.
The pink supply line cointains the most recent highs. If price violates that trend, there will be a retest; I state this because a lot of people could fomo in, but not enough to create the expected bull run.
The horizontal lines are some key resistances.
My take: we are heading to a bull hughe bull run, but I don't expect it on november. I would say around it comes arounde december 8, give or take.
On the meantime, maybe some more sideways, with prices ranging from 440's to 470's
Since march's crash, the demand trendline has been the green one (I drew two because I used both line and bars).
The yellow line is a supply line. When both, supply and demand, trendlines cross there's a bull run. Try it on several time frames and it is true.
There's nothing invalidating the demand trendline, so I assume it as a true trend.
The pink supply line cointains the most recent highs. If price violates that trend, there will be a retest; I state this because a lot of people could fomo in, but not enough to create the expected bull run.
The horizontal lines are some key resistances.
My take: we are heading to a bull hughe bull run, but I don't expect it on november. I would say around it comes arounde december 8, give or take.
On the meantime, maybe some more sideways, with prices ranging from 440's to 470's
