In the following chart some of the key features of the current trend are identified; including the mark-up of the wedge seen at the bottom, long-term support trend (in case price retraces), good entry zone based on break-out (buy the retest) and the various fibonacci levels for the major wave (ath to current bottom), first rally from bottom to local high and it's corrective depth. The red resistance boxes are also highlighting major turning points; e.g. the wicks of weekly highs but also finding resonance with fibonacci levels.
Suggested buy entry prices:
-31,874 to 34,842 USD
Suggested take-profit / reduce risk prices:
-42,055 USD
-44,448 USD
Volatility between the above and below is expected to be swift.
-48,348 USD
Take care, may the trade be with you.
-TheTrex
Suggested buy entry prices:
-31,874 to 34,842 USD
Suggested take-profit / reduce risk prices:
-42,055 USD
-44,448 USD
Volatility between the above and below is expected to be swift.
-48,348 USD
Take care, may the trade be with you.
-TheTrex
Comment:
Can see a shake-out back to breakout of the wedge, some fear would be good and entry in the green box (especially on the yellow line) would make great R:R trade. Stop-loss below the lower trendline