Hi All,
Just as the chart suggests, we have a possible scenario of a long drawn out price action with low volatility after the ABC move.
I have it at lowest, 16800 to 17250 range. If this level doesn't hold, then we will likely have a much deeper correction towards the 14k to 15K range, still being bullish.
I use the Macro logarithmic curve to determine major levels of support and resistance in this chart.
I just can't see going towards the 12K to 13K with this bullish environment.
Note how the fib levels when placed right, have support towards a LH and hence a triangle of some sort, like the 10K range possibly.
Lets see how we go.
Let me ask you a question, where you brave enough to sell in the high 19k's or mid 19k's?
Did you get swayed by the bulls and their noise.
Now reflect as to why you didn't....FEAR of missing out?
I'm telling you, many people talk crap on chart analysis. The smart ones should note a few lessons from this.
I did from my last mistake at the 12K not to sell. Studied it, and got it right here and also shorted it (ALTs instead).
All the best,
S.SAri
2 levels of resistance to short
Just as the chart suggests, we have a possible scenario of a long drawn out price action with low volatility after the ABC move.
I have it at lowest, 16800 to 17250 range. If this level doesn't hold, then we will likely have a much deeper correction towards the 14k to 15K range, still being bullish.
I use the Macro logarithmic curve to determine major levels of support and resistance in this chart.
I just can't see going towards the 12K to 13K with this bullish environment.
Note how the fib levels when placed right, have support towards a LH and hence a triangle of some sort, like the 10K range possibly.
Lets see how we go.
Let me ask you a question, where you brave enough to sell in the high 19k's or mid 19k's?
Did you get swayed by the bulls and their noise.
Now reflect as to why you didn't....FEAR of missing out?
I'm telling you, many people talk crap on chart analysis. The smart ones should note a few lessons from this.
I did from my last mistake at the 12K not to sell. Studied it, and got it right here and also shorted it (ALTs instead).
All the best,
S.SAri
2 levels of resistance to short
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support by the indicators
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My bearish perspective, if the key level is broken.
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This community has signals now but with no risk management comms.
