Massive support on the ascending channel.
We are wanting to break the top of our current Pennant resistance and if we do I think we will see strong volume and a push to $8,600/$9000 before a correction.
Possible that we lose the support of the ascending channel and drop below to the $7,500 - $6,500 region for a nice correction/accumulation period.
I think we will know if we are going to correct within the next 10 hours depending on how the yellow support holds up should we test it..
If we don't break out to the upside in the next two hours I think we will find support around the $7800 region before having one last shot.
If that fails it's times to take profits and watch the weak hands tremble as we fall off the cliff that is our bottom support of the ascending channel.
Either way it's count down to D-Day.
We are wanting to break the top of our current Pennant resistance and if we do I think we will see strong volume and a push to $8,600/$9000 before a correction.
Possible that we lose the support of the ascending channel and drop below to the $7,500 - $6,500 region for a nice correction/accumulation period.
I think we will know if we are going to correct within the next 10 hours depending on how the yellow support holds up should we test it..
If we don't break out to the upside in the next two hours I think we will find support around the $7800 region before having one last shot.
If that fails it's times to take profits and watch the weak hands tremble as we fall off the cliff that is our bottom support of the ascending channel.
Either way it's count down to D-Day.