Pennant playing out. Many attempts to break to the upside... I would love to just break up here but I still believe it has another trip down first. You can see from the lines (log in red, linear in yellow) that the range is somewhere between 10k and 5k. I think buying right now will be a ‘top’ in the short term but a bottom in the longer term. I intend to save buys for $6k-8k range once this is rejected with conviction.
If/when we break past the resistance trend we have followed since 2017, any price available today will seem good however so follow risk tolerance accordingly.
I adjusted my lines slightly from my last idea but the concept remains the same. Looking for one last pullback from a weekly timeframe before August when I expect we will blow through the trend line and not look back.
If/when we break past the resistance trend we have followed since 2017, any price available today will seem good however so follow risk tolerance accordingly.
I adjusted my lines slightly from my last idea but the concept remains the same. Looking for one last pullback from a weekly timeframe before August when I expect we will blow through the trend line and not look back.
