We see a higher high on the MFI. The peak is making a lower high. If we do not continue upward and break out of the trend, this is a hidden bearish divergence, which suggests a continuation of the trend.
I'm still not sure if this is really a Triangle formation. The bottom side of the triangle hasn't had much interaction. If indeed it is a triangle formation, we could see a move downward with a target at the largest width of the triangle, about $6000, which would put the target around $27k.
Use the trend lines to enter into positions. If this isn't the peak and continues into a new higher high, close the short. Then we would be seeing a possible breakout upward out of the triangle. of $6000 to $41k or so.
I'm still not sure if this is really a Triangle formation. The bottom side of the triangle hasn't had much interaction. If indeed it is a triangle formation, we could see a move downward with a target at the largest width of the triangle, about $6000, which would put the target around $27k.
Use the trend lines to enter into positions. If this isn't the peak and continues into a new higher high, close the short. Then we would be seeing a possible breakout upward out of the triangle. of $6000 to $41k or so.