I'm a noob so please take my idea with a huge grain of salt.
We're beginning to break out of the pennant and aiming to begin forming the high point of the right shoulder to complete a larger head and shoulders pattern. Using only trend lines based on the implied direction of the 50 day and 200 day MA you can estimate the price at 42k before that death cross everyone's been talking about on the daily chart . If you use fib retracement from the head to the neckline we could also see 46k,51k but I don't have high confidence in those numbers. If the head and shoulders does complete we may see more down side. Going from the 42k level we could see 28k or 19k using the 100% or 168% levels.
This is not financial advice.
We're beginning to break out of the pennant and aiming to begin forming the high point of the right shoulder to complete a larger head and shoulders pattern. Using only trend lines based on the implied direction of the 50 day and 200 day MA you can estimate the price at 42k before that death cross everyone's been talking about on the daily chart . If you use fib retracement from the head to the neckline we could also see 46k,51k but I don't have high confidence in those numbers. If the head and shoulders does complete we may see more down side. Going from the 42k level we could see 28k or 19k using the 100% or 168% levels.
This is not financial advice.