Looks like we have a W pattern on the 4-hour that should push this up to the red line once it breaks overhead resistance. I'm guessing with wick it could take us to 47-48k with a high-volume push. I expect at some point this is going to correct and drop big. I am not a buyer at this level as it's too risky, but I think likely to break overhead resistance. It's the 3rd time beating on the door of that resistance so it usually busts through and that would I think easily take us to 46k and higher.
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Already broke downward trendline and re-tested successfully. Black line is from breakout from bottom of W. Resistance from trendline at around 46k.
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trendline at top is a little mis-drawn, actually a bit higher, but had issues updating this. Either way, W to 46k or more up to trendline around 48,300 or so
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watch the upper trendline, not drawn and the downward trend, we break below we are going down, otherwise bullish
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Broke the trendline to the downside
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sitting on the 43500 support, still undecided
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Going sideways, bullish consolidation and looking likely to go up to 46-48k if it holds.
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holding on long term trendline, but not looking great
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broke trendline to downside, but still a ton of support lower
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