In my last update, I gave you the support area at 56-57k that I was looking for saying I expect it to hold (because of our EW count and because it was important support)
We got to the low of this area, and got a strong 8% bounce even though its the weekend.
Now, for the crucial levels in my opinion we have :
Support : Daily at 57.3k (also in confluence with a fib golden pocket)
We want to hold this support, or else it would look pretty bearish.
Resistance : 60.9k - 61.5k (weekly + range POC(red line))
If we break it and flip it as support our expectation of higher prices will be strongly backed up as it would look very bullish
Just like in my last idea, I have highlighted both zones with white rectangles
Let me know in the comments if you prefer it when I use them
Any questions?
Good luck traders
Remember not to break your rules
Habib
We got to the low of this area, and got a strong 8% bounce even though its the weekend.
Now, for the crucial levels in my opinion we have :
Support : Daily at 57.3k (also in confluence with a fib golden pocket)
We want to hold this support, or else it would look pretty bearish.
Resistance : 60.9k - 61.5k (weekly + range POC(red line))
If we break it and flip it as support our expectation of higher prices will be strongly backed up as it would look very bullish
Just like in my last idea, I have highlighted both zones with white rectangles
Let me know in the comments if you prefer it when I use them
Any questions?
Good luck traders
Remember not to break your rules
Habib
