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Looks like 6k is about to get chopped to pieces. Would signify a...

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bilsto

1,308 Posts.

48

03/05/19

19:59

Post #: 38403511
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Originally posted by AverageJoe ↑

From $5763 - $6000 is where I can 'see' resistance but charts will not tell you if it will hold or break.

Roughly speaking that 3K-4K bottom sideway churning is the cup bottom with a big spike in price on 2April being the start of the handle. Depending on visual, I personally don't see any pullback from that breakout which is normally how price behave but outlier can happen like global major stock indices this year! This is why I suspect bulls will need a reason to be paper profit protecting?

View attachment 1526494

Trade in the direction of the momentum in this case until it bends?

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Looks like 6k is about to get chopped to pieces. Would signify a defining trend change?
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