Follow up to my previous chart
Based on my previous chart the Bear case played out almost perfectly.
We broke the $40K-$42K support, and tested the $30K support
So where to next?
Bull Case:
The $30K support holds, we chop around between $30K-$40K zone, then push higher
Bear Case:
The $30K support breaks, and we have a fast 30%-35% washout which will put us around $20K, then V-bottom with a strong bounce.
Based on my previous chart the Bear case played out almost perfectly.
We broke the $40K-$42K support, and tested the $30K support
So where to next?
Bull Case:
The $30K support holds, we chop around between $30K-$40K zone, then push higher
Bear Case:
The $30K support breaks, and we have a fast 30%-35% washout which will put us around $20K, then V-bottom with a strong bounce.
