When you zoom out, it's hard to ignore the bull flag pattern that's forming on the weekly.
$1400 seems to be acting as the current support. I feel like a convincing close beneath this level will invalidate the flag, but if we get a bounce here, we might be on a new leg up.
Price target? Not sure. $2K makes sense as the most obvious psychological resistance level, and the previous failed test area.
If we get a strong rebound and maybe a decent volume of liquidated shorts, maybe we push on stronger toward $2200 in the short-term.
Definitely one to watch!
$1400 seems to be acting as the current support. I feel like a convincing close beneath this level will invalidate the flag, but if we get a bounce here, we might be on a new leg up.
Price target? Not sure. $2K makes sense as the most obvious psychological resistance level, and the previous failed test area.
If we get a strong rebound and maybe a decent volume of liquidated shorts, maybe we push on stronger toward $2200 in the short-term.
Definitely one to watch!
Nota
Forgot to add - Volume's dropping off which could hint at a consolidation, and the price action has now returned from the overbought region (not that I think this latter detail is especially important, but it's an additional point to consider).
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.