As promised here i have the confluence on this exact level.
- Weekly level
- CC fibonacci .66-.618
- POC of the range
- 1.618 Fib extension
-1/1 Fib extension
-1.414 fib extension
- Daily level ( Not marked )
- Market structure Level ( Not market )
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Welcome to thunderboy21 technical analysis,
Here you see 2 parts on the chart that are very similar to each other, as i have said is my previous Post i was looking at this fractal from above distribution and projected it on this price action.
i shorted the top via this fractal for a 20% move down ( Did not expect that fast )
i think this is just going to play...
Liquidity is extremely thin, MAJOR issues under the hood, derivatives will blow this up fast. Lulled in inflation story, but actual problem is deflationary bust. Final target of bear (early '22) will be ±1850. Godspeed.
Clear double top indicated across time frames around 26,300-26,400, clearly seen on 1h chart as well as 4h.
Neck line break following a 800 dollar drop below 25,500 with a daily close.
Following a neck line break the expected drop is equal to the distance between neckline to tops, meaning 800.
Target stands on 24,600-800 for now.
The fundamentals remain...
Looking at the chart you can see the price at the daily resistance level (1.63300) were its rejected twice from here and indicates a likely reversal.
Hopefull or stupid ill soon find out but im expecting a drop to 1.61050 if no support is found at this level expect this to plummet and retest 1.57250 area.
If you go over the the 4hr youll see again a double top...
