It is hard to say what will happen the next days. This is a long idea that could work:
Target 1: 540$
Target 2: 613$
Arguments:
- Gann arc is aligned very good at the moment. Check out all the arcs. In other words, the current arc indicates next turning point. It needs to stay inside this arc, if not it could start a new bearish rally.
- Fib 0.886 level global is working as a support right now, along with other lower points from last year.
- Gann lines (the blue ones) from the Gann fan also indicates a current turning point.
Note! This is a log scale chart.
Good luck!
Target 1: 540$
Target 2: 613$
Arguments:
- Gann arc is aligned very good at the moment. Check out all the arcs. In other words, the current arc indicates next turning point. It needs to stay inside this arc, if not it could start a new bearish rally.
- Fib 0.886 level global is working as a support right now, along with other lower points from last year.
- Gann lines (the blue ones) from the Gann fan also indicates a current turning point.
Note! This is a log scale chart.
Good luck!
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Here is a similar idea on XRPUSD:
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