Broken previous structure, now in a corrective move to go test it, only that, eventually ;)
Also a daily trend line (green) that will "support" the price and forge a new bullish structure above this recent one. Below this "support" line we have the 618% retracement level, and below this level i will become a bear looking for bearish trend continuation. In fact, this point can be the C point for a larger abc correction that can terminate around the 1700$. (AB=CD pattern on chart as example)
The Cypher pattern (brown) may get completed at 78%, forging an eventual sell opportunity, in this case, the first target will be the 38% retracement, that can act as a "catapult" to complete a Shark at 161% extension (previous highest closing of all time), and again, the Shark can get completed between the 161% extension and the 224% extension (printing us a new highest high of all time. Look back, the structure leaves clues. ;)
Safe trade, and happy christmas...
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Note: Missing the fib extension for C point on shark pattern. Fib extension from AB.
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Broken structure, amazing price action. Now its forging new corrective structure above the previous one. Bulls are taking the reins ;)