Sweep the lows for liquidity & backtest range EQ for more upside
Just some ideas on sweeping some previous lows for liquidity & backtesting previous range equilibrium levels before more upside
Commentaire:
Not ruling out a violent move down to hunt the 7.7k longers before more upside
Commentaire:
The price did sweep some lows but didn't go as low to backtest the red range 0.5 EQ for a S/R flip. However, the yellow range 0.5 EQ did hold as support.
Now looking for another try at the red range highs. If not accepted above 8.9-9k, I think it's headed to 7.7-8.2k. If accepted above 8.9-9k I'd bet it moves to 10k+ yellow range highs.
Now looking for another try at the red range highs. If not accepted above 8.9-9k, I think it's headed to 7.7-8.2k. If accepted above 8.9-9k I'd bet it moves to 10k+ yellow range highs.
Commentaire:
Bounced from range EQ marked "S/R Flip backtest @ 0.5 fib", let's see if it can reclaim the upper ranges
Commentaire:
8.8-9k next, let's see if the dump to 8.2-8.4k was a large enough bear trap to fuel the price above 9k and beyond
Commentaire:
Perfect retouch on the RED range high @ 8958, now going to dump to at least 8.6-8.8k, if that fails as support we will visit 8.1-8.2k again, maybe even lower if this ends up forming a swing failure over the range high
OR
It sweeps the previous lows now for liquidity and backtests the 0.5 fib EQ at 8.2k. Then reclaims the yellow 0.5 fib EQ at 8.55k before more upside.