My TA on 1D shows that:
1. Price is at the top border of its red channel. I cannot foresee where it will hit its peak, but it would be plausible to go SHORT within 555-580 USD range. RSI index supports this peak, it is almost at 80 level. It may go above. However, while the price is still rising, the vertical volume is decreasing. Best to check MACD for further confirmation just to be on the safe side.
2. Take Profit 1 is best to take at the liquidity level. Currently it's around 38.2% on Fib along with the bottom border of a red channel.
3. The red channel is forming Wolf waves. If this is indeed the case, then exit and TP 2 will be around 430-420 USD, which is 53%-55% on Fib!
1. Price is at the top border of its red channel. I cannot foresee where it will hit its peak, but it would be plausible to go SHORT within 555-580 USD range. RSI index supports this peak, it is almost at 80 level. It may go above. However, while the price is still rising, the vertical volume is decreasing. Best to check MACD for further confirmation just to be on the safe side.
2. Take Profit 1 is best to take at the liquidity level. Currently it's around 38.2% on Fib along with the bottom border of a red channel.
3. The red channel is forming Wolf waves. If this is indeed the case, then exit and TP 2 will be around 430-420 USD, which is 53%-55% on Fib!
