SUP FAMILY
Have seen price slightly pierce the resistance i had discussed earlier today.
However i have found the stronger sidewards Resistance, which is currently sitting at around 7k on my chart.
A strong push over it my see us reach our $7,320 - $7,200 region.
If we are to see a knockback here, i believe that a Bull Flag may be forming, will have that detailed in a chart below.
This could see us push down towards $6,000 - $6,200 before we move up.
(could get dangerous and push us lower if we are to break trend line support)
Or if we are to break up here, my next target is $7,320 - $7,200, which confirms a complete 5 waves down.
I am simply watching here for a break or bounce at this larger support.
If we bounce down, it will be pushed between our new trend line and our major support.
so things could get interestingly sad, or form a nice 5 wave bullflag.
AGAIN, lower low is not off the cards at all. Price could rise as high as 8k and lower low is still a possibility. I will not be convinced we are out of a bear trend until a strong breach of our UPPER TREND LINE is broken in our overall Bull flag.
CHARTS
Completed 5 waves ?
Minor Bull Flag?
WHAT IM WATCHING
MAJOR BULL FLAG + INVERTED H&S NECKLINES
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!
