Looking at this inflection above 5.76 as the critical level here. We want to see a break thru that level and a checkback to confirm the S/R flip.
In the context of a right angled and descending broadening formation, you would eventually expect a return to the range highs and a consolidation below it which ultimately gives you a partial decline. This is confirmed when price returns to the highs, and greatly favors a breakout there after.
The measured move would bring you into the 786, as high as 89$ but id personally follow the levels and where price correlates too historically. 11, 18, 23, 44, 78, all good levels for partial exits for an active trader.
Im not predicting price will reach any of these levels, but if the operator is indeed in a mark up phase here, these are the levels he will visit on the way up.
In the context of a right angled and descending broadening formation, you would eventually expect a return to the range highs and a consolidation below it which ultimately gives you a partial decline. This is confirmed when price returns to the highs, and greatly favors a breakout there after.
The measured move would bring you into the 786, as high as 89$ but id personally follow the levels and where price correlates too historically. 11, 18, 23, 44, 78, all good levels for partial exits for an active trader.
Im not predicting price will reach any of these levels, but if the operator is indeed in a mark up phase here, these are the levels he will visit on the way up.