We hit the C&H target of my previous chart (more or less) very close to 5k before retracing and then re-testing the top of the C&H pattern. It seems the test has succeeded in a bullish manner and we have bounced nicely.
I suspect there are now 2 possible routes:
(1) We had up to 5k and beyond for our grand finale.
(2) We retrace upwards around 50% - near ATH before dropping again, signalling a real downtrend.
I'm betting on #1 for now, though a lot of bulls seem very scared. It might be a slow grind up.
Trade safely here, these are uncertain waters, but I am long for now.
I suspect there are now 2 possible routes:
(1) We had up to 5k and beyond for our grand finale.
(2) We retrace upwards around 50% - near ATH before dropping again, signalling a real downtrend.
I'm betting on #1 for now, though a lot of bulls seem very scared. It might be a slow grind up.
Trade safely here, these are uncertain waters, but I am long for now.