Bear or Bull next?... a detailed analysis
Bullish:
1. W1 C&H, tgt 41,260
2. D1 gap ~35,500
3. Possible continued bullish action if DXY drops. (Looking soft the past few days, but has possible TA tgts up to $130-ish.)
Neutral:
1. USDT is in a symmetric triangle on HTF.
Bearish:
1. unable to break above Jul 19, 2021 low wick range 31,760 - 29,215 (yet)
2. poss H&S forming, tgt 21,455
3. D1 gaps below current price: (apx) 29,800, 27,150, 26,300, 20,700, 20,000
4. Below solid yellow TL and dotted yellow TL
5. PA currently in peak of shoulder wick zone (red)
6. candles & volume only appear to show mild strength thus far
Conclusion:
The next few days are "make or break". For bullish continuation PA needs to break above and hold 31,800 on a daily close. This will invalidate the HNS and simultaneously be a clearing of the Jul 19, 2021 wick zone.
1. W1 C&H, tgt 41,260
2. D1 gap ~35,500
3. Possible continued bullish action if DXY drops. (Looking soft the past few days, but has possible TA tgts up to $130-ish.)
Neutral:
1. USDT is in a symmetric triangle on HTF.
Bearish:
1. unable to break above Jul 19, 2021 low wick range 31,760 - 29,215 (yet)
2. poss H&S forming, tgt 21,455
3. D1 gaps below current price: (apx) 29,800, 27,150, 26,300, 20,700, 20,000
4. Below solid yellow TL and dotted yellow TL
5. PA currently in peak of shoulder wick zone (red)
6. candles & volume only appear to show mild strength thus far
Conclusion:
The next few days are "make or break". For bullish continuation PA needs to break above and hold 31,800 on a daily close. This will invalidate the HNS and simultaneously be a clearing of the Jul 19, 2021 wick zone.
