Nice run, now time for a bit of a cool off before the next run.

7 มี.ค. 2024

We see a bullish megaphone happening on the 4h chart with a breakout out of the ABCDE correction. Bollinger bands are stretched, so this means a cool-down of price movement is likely until the bands constrict. Usually, the price falls to around the mid-point (the dotted yellow lines) of the b-bands. The yellow line also coincidentally also lines up with the breakout zone and new support. A re-test of the breakout zone usually happens before another leg up. I am predicting a pull back to around the $33 zone, with some sideways action along the support before the next move to around the red upper b-band around $47 for a potential 30% profit from $33.

Disclaimer: I am not a financial advisor, this is not financial advice and merely my own idea. Always do your own research.

10 มี.ค. 2024

บันทึก

The unlikely scenario happened and the upward pressure still appears hot. Price action still bounced almost exactly on my target. I would expect consolidation for the median yellow line to catch up before the next leg up.