Bulls have in their arsenal the Falling Wedge.
Bears have already established the huge Bear Flag.
The big reveal will happen before the day ends and dictate what happens during the weekend and the coming week.
The falling wedge has a Bullish Divergence coinciding with the RSI on this chart, although it's may still form the second one and confirm a breakout to the upside.
If the price decides to breakout to the upside the target will be up towards the level at the base of this falling wedge at $8,533.29
Downside breakout target is $7.5K - $7,450.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
Ron (The Intrepid Trader)
Bears have already established the huge Bear Flag.
The big reveal will happen before the day ends and dictate what happens during the weekend and the coming week.
The falling wedge has a Bullish Divergence coinciding with the RSI on this chart, although it's may still form the second one and confirm a breakout to the upside.
If the price decides to breakout to the upside the target will be up towards the level at the base of this falling wedge at $8,533.29
Downside breakout target is $7.5K - $7,450.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
Ron (The Intrepid Trader)
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Here's the bigger picture for the bear flag.
