Good Morning all,
After yesterday plunge we are now licking the wounds or celebrate the victory (depends if you were ready or not to play this market).
If we measure that descending triangle and just to be pure, the measured move would be on the 5.4k region, but I think that we will bounce back prior to that!
Short/Medium term:
1. Testing the .5 fib - 8713 USD
2. If broke down, I expect a move to the next support area, at around 7495 USD which is in the area of the .618 fib
3. After that we must revaluate our plan, but I am expecting a bounce from the blue area I gave on the chart, which can go as long as 6400 USD.
4. The last man standing will be on the lows 6k, Highs 5k.
Pls take not that we can bounce back at any moment, but for now this is my trading plan.
This is not financial advise, these are just my opinions on the current market.
May the odds don´t rek your favor
After yesterday plunge we are now licking the wounds or celebrate the victory (depends if you were ready or not to play this market).
If we measure that descending triangle and just to be pure, the measured move would be on the 5.4k region, but I think that we will bounce back prior to that!
Short/Medium term:
1. Testing the .5 fib - 8713 USD
2. If broke down, I expect a move to the next support area, at around 7495 USD which is in the area of the .618 fib
3. After that we must revaluate our plan, but I am expecting a bounce from the blue area I gave on the chart, which can go as long as 6400 USD.
4. The last man standing will be on the lows 6k, Highs 5k.
Pls take not that we can bounce back at any moment, but for now this is my trading plan.
This is not financial advise, these are just my opinions on the current market.
May the odds don´t rek your favor