Explanation of what could be causing this price action.
1. Trend lines from previous bull run S &R are acting like magnets for the price. Drawing the pice higher.
2. We will pop up or down from these trend lines.
3. If we pop up into 10K we will enter 3rd cycle prematurely and will likely suffer a violent reaction down to 200 SMA.
4. If we can stay out of 3rd cycle and correct to MA, we can likely enter 3rd cycle calmly closer to the MA's.
5. If we reject at 10K +, likely down to 200 SMA to give us time to stabilize before entering 3rd cycle.
DYOR. Not advice, just my thoughts.
1. Trend lines from previous bull run S &R are acting like magnets for the price. Drawing the pice higher.
2. We will pop up or down from these trend lines.
3. If we pop up into 10K we will enter 3rd cycle prematurely and will likely suffer a violent reaction down to 200 SMA.
4. If we can stay out of 3rd cycle and correct to MA, we can likely enter 3rd cycle calmly closer to the MA's.
5. If we reject at 10K +, likely down to 200 SMA to give us time to stabilize before entering 3rd cycle.
DYOR. Not advice, just my thoughts.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.