This post is speculative and I would advise you to consider it only as a broader outlook on possible outcomes moving forward. With that said, it's very interesting to see the pattern here, not only with price, but also with timing.
1. Prior two all time highs: We made a high, retraced for 16-18 days, made a new high, and pulled back.
2. The pullback on both occasions was right around a 39% decrease in price and was reversed at the green trend line
3. Pullback also reversed at the same 30 oversold levels on RSI and the 1 day chart
4. RSI on both prior highs was divergent almost identically on the 1 day chart
5. PPO is forming a clear trend line with a target for confirmation of our next all time high above 6k
6. Clear patterns with price plot
Anything can happen and this wave may break all of the trend history that has already been established. For now, this will at least give us a few areas of interest to keep an eye on. Short term i'm looking for a retrace to fib levels or the prior all time high but probably will not trade until we have more direction. I do think that the 16-18 day timing to make a final high above 6k, and the subsequent pullback, lines up well with the pending fork. Time will tell, good luck with your trades!
1. Prior two all time highs: We made a high, retraced for 16-18 days, made a new high, and pulled back.
2. The pullback on both occasions was right around a 39% decrease in price and was reversed at the green trend line
3. Pullback also reversed at the same 30 oversold levels on RSI and the 1 day chart
4. RSI on both prior highs was divergent almost identically on the 1 day chart
5. PPO is forming a clear trend line with a target for confirmation of our next all time high above 6k
6. Clear patterns with price plot
Anything can happen and this wave may break all of the trend history that has already been established. For now, this will at least give us a few areas of interest to keep an eye on. Short term i'm looking for a retrace to fib levels or the prior all time high but probably will not trade until we have more direction. I do think that the 16-18 day timing to make a final high above 6k, and the subsequent pullback, lines up well with the pending fork. Time will tell, good luck with your trades!
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Alternate scenario
