As is in the chart, top of the channel is reached;
Bullish scenario, from here we’ll have some sideway movement for a few candles so that the Tenkan-Sen catchups up a bit, then a successful retest of the Tenkan-Sen to establish a clear baseline and a bullish break of the top of the channel into yet another higher price range.
Bearish scenario this proves to be another bart move like the previous two attempts at the 12k, a triple top is formed, the bottom of the channel breaks and the price goes to fill the CME gap at higher 9k. (unlikely worst case scenario imo.)
(the volume on the 12k break and a quick retest seemed healthy enough to prove sustainable.)
Bullish scenario, from here we’ll have some sideway movement for a few candles so that the Tenkan-Sen catchups up a bit, then a successful retest of the Tenkan-Sen to establish a clear baseline and a bullish break of the top of the channel into yet another higher price range.
Bearish scenario this proves to be another bart move like the previous two attempts at the 12k, a triple top is formed, the bottom of the channel breaks and the price goes to fill the CME gap at higher 9k. (unlikely worst case scenario imo.)
(the volume on the 12k break and a quick retest seemed healthy enough to prove sustainable.)
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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.