Hand cuff taken off recently!
Here is my technical view and some will argue it reflects the FA/sentiment of the market.
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$3018 is the precise support but in reality is more a ball park zone. What is interesting is the peak/trough analysis suggest it was a descending triangle/wedge so the trap is to wait for the upper trend line break to enter long.
$6000 psy level held with that initial stab through recovery creating a stop loss orange zone). I thought it was just a matter of time that $6000 will break and flush out those sell stops and move to the next lower support. You can see the confirmation from the RSI basically whipsawing on the 50 neutral level.
Price is again trapped between the tight zone marked as price is more than likely 'winding' with buy/sell stops building above/below the S/R levels. The odds obviously favors a test of the support than breaking resistance.
I have experience these kinds of exponential rally in the past and it it is always different this time? The harder they rise, the harder they fall?
However a bottom picker will see the RSI divergence but I don't indulge in bottom picking so this is a trap IMO.
Good luck.
