OK, so Elon's tweet broke the deccending wedge formation, which as expected prompted an immediate upside.
Hoewever there was no follow through by buyers and bears took control and re-established the downtrend. my position now is short.
it is clear from the upper level of the Elon tweet spike that we have moved from a descending wedge into a clearly defined downwards channel, which I expect will be completed by a re-test of the low boundary currently at 26k ish.
I expect that if we get there then due to more touches on the downwards than the upwards line that we will probably breakdown and head towards 23k, but I will take profits at 28k and see how it plays out
Good luck everyone.
Hoewever there was no follow through by buyers and bears took control and re-established the downtrend. my position now is short.
it is clear from the upper level of the Elon tweet spike that we have moved from a descending wedge into a clearly defined downwards channel, which I expect will be completed by a re-test of the low boundary currently at 26k ish.
I expect that if we get there then due to more touches on the downwards than the upwards line that we will probably breakdown and head towards 23k, but I will take profits at 28k and see how it plays out
Good luck everyone.
Trade active:
possible upwards break