There are two possibilities:
A breakout to the upside with a MIN TP of $8205 and a MAX TP of $8681. We can wait for a breakout of the all time high at $7602 or fetch the early bird price of $7452 with a breakout upwards from the crown reversal zone.
Alternatively, a crown reversal is very possible with a short MIN TP at $6744 and a MAX TP at $6523. A break of the can serve as confirmation or get involved with a break of the crown reversal zone at $7340.
*Keep in mind these TP levels can change with further analysis of price action.
***This is a high risk trade as the cycle expires today. This means a break to the downside is more likely than upwards under normal circumstances. Given some fundamentals in this market, this cycle might be prolonged.
Cheers and GLWT!
We could form an inverse head and shoulders with the current pattern on the chart...but a break below the bottom big rising wedge line will indicate a more serious correction.
Watch the big rising wedge line and the thick teal line which is the top of the bull channel.