When in doubt, zoom out. Following a falling wedge pattern, a bullish move is expected if structure permits. The current falling wedge acts as a W1 timeframe lower high and on the daily timeframe, we see that it is also a retest of a D1 indecision level as a new support. Extended wicks below and short wicks on top indicate bearish exhaustion with bullish pressure returning. I'm expecting price to push past the 64,900 level where the all time high is located due to the July 21st to July 30th bullish impulse creating a 38.2% Fibonacci retracement. Feel free to comment and let me know what you think.
Please like and follow for future analysis'.
Please like and follow for future analysis'.