Waiting for the price to hit near $6,000 and then rebound. In the dotcom burst we had a backtest and accumulation before the next run. I'm expecting the 6k rounded target before hitting $55-60k (next runup) but prepare for a slight pullback from 20k to 16k before the big run.
Do you have an opinion about the different form of bottom, clear V shape for Dot com.
TheKujiras
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@trixhome I am looking for the support line to break for a final shakeout. After the break I look for a quick recovery OR a reversal pattern. On a smaller timeframe I see a potential AE DB and a setup for a new bull run. This would pull us to about 5.5k and then another pullback and ultimate run up to a new high.
TheKujiras
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@trixhome, so far we are following pattern still. I wish the Yume Wave (bottom indicator) would update in the chart, but unfortunately it doesn't. :(