I went back and drew more accurate lines at lower timeframes. You can see that the 6k bounce was due to us hitting the trendline. You can also see that we have now broken that same trendline. We may bounce at 6k and try to work our way back into the triangle but we will be rejected at our former trendline and drop down to 4k. 4k corresponds with a longer term trendline but trying to time things is next to impossible so just keep an eye on the trendline
The full extension of our target puts us at the 1,800 level but I imagine it may take awhile to get there.
To all of those who think the reversal will happen at 6k, you will get owned if you pan to hodl from that level.
The full extension of our target puts us at the 1,800 level but I imagine it may take awhile to get there.
To all of those who think the reversal will happen at 6k, you will get owned if you pan to hodl from that level.