seems done and at a longer term view this Wave 2 ended! Heres what I mean:
The white arrows are possible outcomes for the near future! This TA is for longer term! We may see some drops and bounces!
If you zoom out you can see the big symmetrical triangle we are inside (base=green top=red) but inside that triangle we see the (orange) this is sign of reversal, thus meaning this Bear market is soon to come to an end and we should break upwards of this big triangle!
For now the "targets" you should look for are the orange that make the several wedges!
(Pink lines with breaks are supports)
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Closer look the the levels to look to!
Red line with NO breaks: Main downtrend
Red line with breaks: Line to look to to confirm a "big" BULLISH trend
Green: Current uptrend
Orange: Old downtrend (broken)
Purple: Support levels
9.1K support is holding strong (1H TF) be careful if we drop bellow it!
(IF WE BREAK BELLOW 9.1K SUPPORT) Targets: 8.2k and 7.5k (maybe)!
Targets to look to are the green trend line and the purple lines with breaks!
For short term I must say I'm not sure on what will happen.
On the other hand, for long term, the sadness is ending soon! At least thats MY OWN opinion!
Trend line I was talking about was respected!
Buy pressure took the price up again to the up trend, it is possible that we see an inverted help and shoulders! Let hope so!!
The 8.2k support is holding strong and it is what is protecting us against the 7.5k zone!
This could be a triple bottom!
8.2k support broken, next one is 7.4k!
Next zone to look to is 7.2/7.4k
Bellow that we may see the 5k and 3k which will be very bad!
12k drop, 50 days of sadness, when will it end?
No one knows...
Support at 6k and smma200 at 6.1k bellow that is death.
We must not fail that (if it happens), a successful retest will make a double bottom moving the price to the 9.5k levels!
Last bottom was at 6k we will most likely see that agin!
In theory the drop is the same percent as the pole of the flag so we could see 5.1k!
Green line used to be resistance now it's acting as support!
Next remittances to look for will be yellow and red!
These are not targets!
4H Ichimoku shows Bullish!
IF price enters cloud it may go to the other edge, at 9.5k levels near the yellow resistance!
Watch out for Fib levels!
Low TF bearish
Would be extremely good to see an Inverted H&S...
So far so good!
Red lines are resistances.. kind of hard...
Trade safe and have a nice day!
It may revisit the 200DMA. The average person is bearish right now, so panic selling after hitting 10k and retracing is still on the table. February 14th, remember the date. :D