Probably down. $370 and possibly lower.
This is kind of a follow-up idea with better analysis to my last post which I started shorting from.
Most likely scenario is for us to drop down to that area I mentioned. 360s. But that's a really good area to buy at.
The market has been leaving the triangle a little bit but hasn't spent much time there, and a lot of the time longs might get trapped there and contribute to a rapid falling of price when people think the breakout has failed there.
I think we will break to the upside, just not soon or immediately. The market often tests price levels multiple times.
If we don't go to that level, there's a lower probability we could just get to the breakout zone I've shown on the timeframe, which I think is a really good place to buy at in anticipation of a large scale breakout.
And finally, if we breakout and just go only up from price levels right here, that would be a bit surprising to me.
Short position as I said in my last idea but am watching it carefully. Should close 50% immediately and possibly more at red line if it gets there at least. I don't think we'll necessarily go that low this time as we have previously.
My concern is that we're nearing close to the end of our triangle which means there's a higher chance of a breakout as we move along in time.
Most likely scenario is for us to drop down to that area I mentioned. 360s. But that's a really good area to buy at.
The market has been leaving the triangle a little bit but hasn't spent much time there, and a lot of the time longs might get trapped there and contribute to a rapid falling of price when people think the breakout has failed there.
I think we will break to the upside, just not soon or immediately. The market often tests price levels multiple times.
If we don't go to that level, there's a lower probability we could just get to the breakout zone I've shown on the timeframe, which I think is a really good place to buy at in anticipation of a large scale breakout.
And finally, if we breakout and just go only up from price levels right here, that would be a bit surprising to me.
Short position as I said in my last idea but am watching it carefully. Should close 50% immediately and possibly more at red line if it gets there at least. I don't think we'll necessarily go that low this time as we have previously.
My concern is that we're nearing close to the end of our triangle which means there's a higher chance of a breakout as we move along in time.
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