Sweep the lows for liquidity & backtest range EQ for more upside

Just some ideas on sweeping some previous lows for liquidity & backtesting previous range equilibrium levels before more upside

Komentar:

Either it leaves the red range right now now and sweeps the "equal high" 10k+ levels above for liquidity and then dumps back down to 7.7-8.2k

OR

It sweeps the previous lows now for liquidity and backtests the 0.5 fib EQ at 8.2k. Then reclaims the yellow 0.5 fib EQ at 8.55k before more upside.

Komentar:

Not ruling out a violent move down to hunt the 7.7k longers before more upside

Komentar:

The price did sweep some lows but didn't go as low to backtest the red range 0.5 EQ for a S/R flip. However, the yellow range 0.5 EQ did hold as support.

Now looking for another try at the red range highs. If not accepted above 8.9-9k, I think it's headed to 7.7-8.2k. If accepted above 8.9-9k I'd bet it moves to 10k+ yellow range highs.

Komentar:

Bounced from range EQ marked "S/R Flip backtest @ 0.5 fib", let's see if it can reclaim the upper ranges

Komentar:

8.8-9k next, let's see if the dump to 8.2-8.4k was a large enough bear trap to fuel the price above 9k and beyond

Komentar:

Perfect retouch on the RED range high @ 8958, now going to dump to at least 8.6-8.8k, if that fails as support we will visit 8.1-8.2k again, maybe even lower if this ends up forming a swing failure over the range high