Inverse head and shoulder target (8.87k) CME gap (around 8.6k) 0.5 retracement from last top (8.34k) weekly 200 MA (around 8.2k) POC of VPVR since mid-May (7.94k) O.618 fib retracement from ATH (7.86k)
All this points to a price trending to about 8.5k before being able to go up again. This would actually be healthy and would be compatible with a redesigned parabola drawn in red.
----- All comments welcome :)
Kommentar
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Recent bounce does not invalidate analysis : still in descending channel
Trade ist aktiv
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Broke out of descending channel. However some of the reasons for the initial target are not yet invalidated.