Hi guys!
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA based on the previous bullrun in 2017.
I am also keeping an eye on the fibb levels and the huge VPVR resistance at 6.4k. A correction to 6.4 would make the most sense. I will probably start to average in from the 7k-6.8k range.
I will keep you guys updated.
***It is not a financial advice, It is only my own opinion***
If you have any question, leave comment, and if you found it helpful don't be afraid to hit the like button!
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA based on the previous bullrun in 2017.
I am also keeping an eye on the fibb levels and the huge VPVR resistance at 6.4k. A correction to 6.4 would make the most sense. I will probably start to average in from the 7k-6.8k range.
I will keep you guys updated.
***It is not a financial advice, It is only my own opinion***
If you have any question, leave comment, and if you found it helpful don't be afraid to hit the like button!
To have a better look on the VPVR