If we look at the high price position in August 2011 and the breakout point in 2013 in the main chart above, it recorded 1 Year 8 Months of movement and the high price position 2020 and the current price (Jun 2022), this recorded 1 Year 6 Months of movement.
Could the bulls be able to maintain the Low of August 2021 in The Next 2 Months ?
in the previous analysis, I predict that May or June 2022 is most likely a cycle low (On the contrary if the price can be closed by the Bears below $1975/70, then the possible pattern that will play is the Bulls may wait to re-enter the market in May or June 2022, because usually those months are Cycle Lows.)
If this is true, then $1787 is the May 2022 Low followed by $1805 June 2022 Low (plus minus 1 week) is potentially the low price.
So... based on the price movements, it is most likely that the bulls will retest the April and March 2022 Highs to complete the Ascending Triangle Pattern (pls copy and paste this link: s3.amazonaws.com/tradingview/snapshots/b/BbreaxYy.png).
ooOoo From The Desk Of NewBie ooOoo
Could the bulls be able to maintain the Low of August 2021 in The Next 2 Months ?
in the previous analysis, I predict that May or June 2022 is most likely a cycle low (On the contrary if the price can be closed by the Bears below $1975/70, then the possible pattern that will play is the Bulls may wait to re-enter the market in May or June 2022, because usually those months are Cycle Lows.)
If this is true, then $1787 is the May 2022 Low followed by $1805 June 2022 Low (plus minus 1 week) is potentially the low price.
So... based on the price movements, it is most likely that the bulls will retest the April and March 2022 Highs to complete the Ascending Triangle Pattern (pls copy and paste this link: s3.amazonaws.com/tradingview/snapshots/b/BbreaxYy.png).
ooOoo From The Desk Of NewBie ooOoo
