has been climbing steadily down a and hitting highs and lows within the identified lines. and levels are not showing strong signs of a breakout yet...but look like they are heading there...
Based on the current pattern and previous , I suspect that it will hit a low below around the 4150 and 3920 range, From there is should bounce to the 4700 mark where there is very strong resistance. The closer the low gets to 3900s, the higher change of breaking the 4700.
There is strong support around 3800 so if it breaks that it will like result in a massive sell-off.
Scenario 1: Blue Dash
Scenario 2: Purple Dash
Buy Range: 4150 - 3920
60% - 4450
30% - 4520
10% - 4690
Timeline: Feb 12 - Feb 16
Note: What happens with BTC will likely impact so it may change everything.
Lastly, you are responsible for your own action/trades, I'm doing this for fun/not suggesting anything.
P.S: I welcome any feedback or questions
BTW - this is what i'm looking at...
RSI and CCI - too high could result in an extreme bear movement (based on past observations)
MACD - still looks bullish
Volume - not great, needs to be higher to get to the higher highs
As always, this is what i'm looking at:
Trade is following scenario 2 from my original post (purple dashed line) (I have to admit, I didn't think it was likely or the jump would take this long). Bounced nicely off the 3825 major support and we need to see a upswing in the next 24 hours to remain accurate. The lower low indicates a bigger jump if/when it happens
Any other insight/your thoughts as to what is going on would be great