Another Elvis classic that the bulls are playing! The outlook remains bullish as long as we stay above the $17629 level. This level is very important to uphold the bullish expectation as depicted in the chart. For a solid confirmation of a breakout, prices should break above the resistance at $19891. The bullish action would indicate another run towards the $25k area. There is no space for any weakness. In case prices slump below $17629, there might be a bigger corrective movement on the way. The primary expectation remains a breakout to new all-time highs. Stops for long positions should be placed below $17692/$16300.
Stay safe and happy trading!
Stay safe and happy trading!
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.