If the market can't reach 5000.00 level and break above it, we'll have to think about a new correction wave. If we get a reversal chart or candlestick pattern near 4900.00 - 5000.00 resistance levels, it will be a solid signal for price reversal. We'll have to be ready to see downward movement to lower support zones. Let's look at the daily chart and spot the most interesting zone for buying. Simple Moving Averages will be good as support lines. But if we add Fib Retracement grid, we'll see a possible reversal zone between 37000.00 and 3000.00 levels. It will be good for getting buy signals and opening long trades based on confirmed reversal signals. But the perfect buy levels will be in the zone formed by SMA100, 3000.00 support level and 0.618 Fib level. The perfect long trades will be opened here. It will be a good starting point for a new impulse wave in the direction of the main uptrend and new market highs.
I'd be surprised if you can tell me these indicators really help your trade and make you profitable
ruraldisturbance
⋅
@startedyoung, and Id be surprised if your speculation was any better than his, cause thats what this whole thing is so don't act like his charts are inferior. Oh I just realized you dont have any charts published, you must keep your ideas private for those really big trades haha, get the f outta here man.
I mean anything can happen but I also don't think we will drop below 4k soon, if ever again. The chance is much higher to break last ATH and heading to 6k+, then seeing prices in the lower 3000nds