Macro
1. Macro Trend - Still Bullish
2. EW - Wave pattern is mature, we are in the second leg of the retracement.
3. Macro Oscillators have returned to neutral readings, but momentum to the downside (retracement)
Present 4hr
Bearish Signals
1. Bearish break from consolidation. Continuing downwards trend
2. Bearish Flag on the daily candles
3. Daily + 4hr MACD still bearish
Why are we going to 8k?
1. 618 FIB of the impulse leg 4K -> 14k (yes, this is just the first wave for this bull run)
2. Significant Volume profile range
3. 1.618 extension of the rejection impulse leg from 12k
4. Previous structure resistance from May-June
1. Macro Trend - Still Bullish
2. EW - Wave pattern is mature, we are in the second leg of the retracement.
3. Macro Oscillators have returned to neutral readings, but momentum to the downside (retracement)
Present 4hr
Bearish Signals
1. Bearish break from consolidation. Continuing downwards trend
2. Bearish Flag on the daily candles
3. Daily + 4hr MACD still bearish
Why are we going to 8k?
1. 618 FIB of the impulse leg 4K -> 14k (yes, this is just the first wave for this bull run)
2. Significant Volume profile range
3. 1.618 extension of the rejection impulse leg from 12k
4. Previous structure resistance from May-June
Comment:
TP 8k Has hit... Be prepared for massive volatility in this range. Don't catch the knife until you have more signals for a long. have a great day everyone!