After last night very clear break of the neckline-area, the bulls look stronger than last week. We had some volume incoming. Generally, the target of this A&E is around $13k, where also the former high and the Yearly Pivot is placed. Please bear in mind, that diagonal trendline coming from the last two highs, could bring this pattern to a pre-mature stop between Weekly R2 and Monthly R1 ($12.2-$12.5k).
At the moment we already reached the new Weekly R1, our new Weekly Pivot is at $10.500 and forms together with the Monthly Pivot a nice support in that area which we should keep in mind for forming the next possible bullish higher-low. Also the neckline has not been retested yet, it does not have to happen, but it can. Trade safe. Always set stops.
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Warm regards,
Neru
At the moment we already reached the new Weekly R1, our new Weekly Pivot is at $10.500 and forms together with the Monthly Pivot a nice support in that area which we should keep in mind for forming the next possible bullish higher-low. Also the neckline has not been retested yet, it does not have to happen, but it can. Trade safe. Always set stops.
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Warm regards,
Neru
