From the Weekly chart it is very clear that that last seller was taken out very swiftly and im pretty sure which ever seller that started the sell in an attempt to break the 6000 support has either taken their profits at the 4000 price or stopped out by the recent bull run.
Going down to the daily, It is very clear that it is an impulse wave with a simple abc retracement on 2nd wave. With the 3rd wave being extremely overextended , The 4th should be turning into a complex pullback with plenty of spikes. Therefore , this current bull that is about to test the Recent highs might turn into a range/flat which is a good chance to trade a short and take it to the bottom of the range.
For the long term trades, It is clear it is currently in buyers trend, But prices are way too expensive and i would need a pull back to 6.6k region with the momentum slowing down to start looking for buys to trade the 3rd impulsive wave of the weekly chart.
Going down to the daily, It is very clear that it is an impulse wave with a simple abc retracement on 2nd wave. With the 3rd wave being extremely overextended , The 4th should be turning into a complex pullback with plenty of spikes. Therefore , this current bull that is about to test the Recent highs might turn into a range/flat which is a good chance to trade a short and take it to the bottom of the range.
For the long term trades, It is clear it is currently in buyers trend, But prices are way too expensive and i would need a pull back to 6.6k region with the momentum slowing down to start looking for buys to trade the 3rd impulsive wave of the weekly chart.
