Converging support areas.
Likely to come down to upper trendline for retest of breakout, strength from lower support line aswell as the 1.618 fib for a large amalgamation of supports.
We are still in the run phase of the reversla bump and run, move should take us to 30k, above that is the final existing downtrend from 52k sitting at around 32k.
Expect very heavy resistance at both of these levels.
Should the supports fail, a breakdown to 26 - 25k would be possible.
Likely to come down to upper trendline for retest of breakout, strength from lower support line aswell as the 1.618 fib for a large amalgamation of supports.
We are still in the run phase of the reversla bump and run, move should take us to 30k, above that is the final existing downtrend from 52k sitting at around 32k.
Expect very heavy resistance at both of these levels.
Should the supports fail, a breakdown to 26 - 25k would be possible.
Comment:
First target reached
Bears put up a fight to invalidate trend support however the Bull support on that 1.618 fib was just too strong too be invalidated. Closing in on decision point now.