i'm still leaning short here, but looking at current margin pressure levels to get a better idea of where price might find support/resistance.
next, i'm expecting we'll test the key support around $31k where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect.
if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be $27.5k and $24.5k-$25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short ($41.34k resistance) = dotted lines
long ($28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
next, i'm expecting we'll test the key support around $31k where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect.
if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be $27.5k and $24.5k-$25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short ($41.34k resistance) = dotted lines
long ($28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
Commentaire:
moment of truth. should be an interesting week.
