Hi All,
To me this looks like a reversal pattern, or part of a bigger reversal pattern.
The trade has a condition which its to break the formation and not go below the "line in the sand" level, which is the bottom of the 4hrly candle.
As explained in the video, I have a number of levels as resistance.
I do believe the 53k - 54k will be a major resistance.
If we break that, then the 0.618 fib level can be possible for it makes it way back down to the 42k to 45k as I have always claimed is the target.
If the "line in the sand" level is broken, then there is a shorting opportunity.
All the best,
S.SAri
To me this looks like a reversal pattern, or part of a bigger reversal pattern.
The trade has a condition which its to break the formation and not go below the "line in the sand" level, which is the bottom of the 4hrly candle.
As explained in the video, I have a number of levels as resistance.
I do believe the 53k - 54k will be a major resistance.
If we break that, then the 0.618 fib level can be possible for it makes it way back down to the 42k to 45k as I have always claimed is the target.
If the "line in the sand" level is broken, then there is a shorting opportunity.
All the best,
S.SAri
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