Long - touched previous support to the tee. SL below 200DMA.
Comment:
Got a few DM on the projected price esp. after the predicted top.
On predicted top, few factors lead me to believe why we touch and top out somewhere in the $15.5 - $17.2 range: 1. price action will be derivatives led 2. big miners would want to be hedged at those prices to really attempt to wipe small ones 3. retail euphoria would start to trickle in with the hopes of a continued run
On predicted drop, believe we drop to reset the marekt and projection is retest of 200 WMA, which here is forecasted. 200 Week price (~3.8 years) will start rising faster now, given we will take into account prices 2016 and after for the first time. Retest somewhere in the 5500 - 7500 range.
Of course, all this is projected and takes R:R into account. Best done on spot.
P.S. - Not a recommendation to buy or sell. Educational purposes only.
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On predicted top, few factors lead me to believe why we touch and top out somewhere in the $15.5 - $17.2 range: 1. price action will be derivatives led 2. big miners would want to be hedged at those prices to really attempt to wipe small ones 3. retail euphoria would start to trickle in with the hopes of a continued run
On predicted drop, believe we drop to reset the marekt and projection is retest of 200 WMA, which here is forecasted. 200 Week price (~3.8 years) will start rising faster now, given we will take into account prices 2016 and after for the first time. Retest somewhere in the 5500 - 7500 range.
Of course, all this is projected and takes R:R into account. Best done on spot.
P.S. - Not a recommendation to buy or sell. Educational purposes only.