The market is going to reach the downtrend line and we can expect a possible breakout. If price passes through this resistance line, it will be long opportunity. Buy above the downtrend line with take-profit orders near 2750.00 level. Stop orders for long trades should be below 2450.00 level. If price bounces from the downtrend line and breaks the uptrend line 1, we'll have short opportunity. Sell below the uptrend line 1 with profit target at the uptrend 2. Stop orders for short trades must be placed above the local swing high.
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I see the same and found same up/down sides. See please give critique so I can learn more and improve :-) .. I've linked your analysis from mine - its great work you do!
@DLavrov, thank you sir! ...and looks potentially as a good deal to get in right now, 2520 :-)
torjusg
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I think it's very likely that you are right. If we look at the last time there was a dump, there was similarily a fall in price and then another "double top", before it dumped again. My exit levels are a bit below 2700. In a market of this kind of insecurity, I think such patterns are easily repeated.
Other indications are the bullish divergence on the RSI a few hours back with a distinct W shape. I doubt that indication has been "used up" yet, as it was quite strong. Also, the depth is looking quite good, it could easily go up after a very small correction.