In my previous idea, I asked whether the dark green or bright green lines in this chart would provide trend line support. For now I'm sitting back to watch whether we'll go lower and head towards the darker line. Most assumed that there would be a lot of buyer support at $10,800, but we have been trending up and trying to break through $11,600 convincingly for a few days, so perhaps it was due to for a pullback.
The other possibility right now, is that we're in a broader sideways channel, this may bounce between the red and cyan line, in which case low $9k area is where we may see support.
For now it's hard to say, I'll continue to watch the chart and update ideas/questions.
The other possibility right now, is that we're in a broader sideways channel, this may bounce between the red and cyan line, in which case low $9k area is where we may see support.
For now it's hard to say, I'll continue to watch the chart and update ideas/questions.