I first drew these lines on April 7th. Let's see how this play out. Many variables at play but when I pulled this chart and saw that bottom wick from the week of Jun 21st I felt obliged to publish. If that channel is valid, and it looks reasonable, we'll first have to reconcile the bottom wick from 5/11 daily at $25,292 (or so) before deciding where to go. If we can get over the $25,292 level, then I suspect we range between there and the bottom of that June 21st weekly wick around $28k before the next move reveals itself.
Just remember, the market doesn't have to make sense. It's always forward looking and despite all of the perceived headwinds we see around us, it's looking elsewhere. I fear for the future but that's another conversation. Let's enjoy the green candles we've been seeing and see where this takes us - up, down, or otherwise.
And... sorry about the crappily (is that a word?) drawn lines. I'm tired and don't care much to neaten this up at the moment.
Just remember, the market doesn't have to make sense. It's always forward looking and despite all of the perceived headwinds we see around us, it's looking elsewhere. I fear for the future but that's another conversation. Let's enjoy the green candles we've been seeing and see where this takes us - up, down, or otherwise.
And... sorry about the crappily (is that a word?) drawn lines. I'm tired and don't care much to neaten this up at the moment.