Chart posted 5-24-2021 approx 11:30pm As promised. I had to tighten up the chart a bit after today's price action. Very nice price action. I took hefty profits at 13.86- but I am looking to re-enter very soon Tuesday after consolidation completes. There is a chances it rallies right up at the bell if post market settled up.
To the chart: I originally thought we had a crab pattern - but the price action revealed (IMO) a shark- hence why price shot up at the bell. Now we have seen the stalling out.. but I dont think price holds stagnant for long. I think we consolidate and go right back up again Tuesday. Price target around 14.80- 15.15 (see red box). This is an intermediate target. I think we push higher and so- price may not even stop here, but its the area I am wanting to see before we can speak about higher prices. I am presenting this range due to the 2 patterns (shown on chart) - shark and crab- both may play out so the range is provided. Lets see what develops.
I am of the opinion these gains will come swiftly- as of June I think the market is going to take a turn down harshly.. So enjoy what you can- while you can get it. CHEERS! Ill address the general market later.
To the chart: I originally thought we had a crab pattern - but the price action revealed (IMO) a shark- hence why price shot up at the bell. Now we have seen the stalling out.. but I dont think price holds stagnant for long. I think we consolidate and go right back up again Tuesday. Price target around 14.80- 15.15 (see red box). This is an intermediate target. I think we push higher and so- price may not even stop here, but its the area I am wanting to see before we can speak about higher prices. I am presenting this range due to the 2 patterns (shown on chart) - shark and crab- both may play out so the range is provided. Lets see what develops.
I am of the opinion these gains will come swiftly- as of June I think the market is going to take a turn down harshly.. So enjoy what you can- while you can get it. CHEERS! Ill address the general market later.
Trade active:
Coming out much hotter than I expected this morning.. new target 17.50- possible consolidations at 15 and 16.00 mark (estimates)- before ultimately reaching the goal.. but you can put this on auto pilot. I think we are locked in unless we see a massive dump at
Comment:
14.36 is a historical resistance point- we need to get through this to realize any of the targets. I think we will, but may stall here for a bit... we came out way to hot this morning :) Give it some time to cook. Anything back below 14- 13.90 is rejection... and would be bad.
Trade active:
Looks like we will take the long way up. The morning fakeout- appears to now be forming a tiny pattern before we get through that resistance point. I do not think price will fall below 14.00 so there may be a couple of more entry points for the ppl who didnt catch the first bar or 2. Still bullish.. this pattern is going to take some time...but once we get through this resistance we are off.
Trade closed: target reached:
Will reopen and expecting higher prices.. Lets see what develops.
Moorsc0de aka Crypt0nomics aka Zaphkiel
