After Market Update 6/16/2022
Looks bad. Possible drop on the next day timeframe within a short period of the candle change is maybe 40%%. I think it is highly possible the price can come back up to around 22,500 to test the channel top and complete the inverse head and shoulders.
For purposes of a day candle start under the channel and coming back to test, I would thing it is possible to come back up. It looks like it has A LOT of resistance after that ugly price action throughout the day.
Next bounce spot is most likely 17,800 and maybe returning to 20,800 - 21,630 before going back down towards 8-9k.
For purposes of a day candle start under the channel and coming back to test, I would thing it is possible to come back up. It looks like it has A LOT of resistance after that ugly price action throughout the day.
Next bounce spot is most likely 17,800 and maybe returning to 20,800 - 21,630 before going back down towards 8-9k.
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