As expected, we are closing in to my target at $5,250.
However, I anticipated an impulse up to $6,800 area in the shape of an ABC of some sort but chances of that happening is not looking so good right now.
As I review the mid term view again with new information I can clearly see that we're repeating the channel pattern. If we look at the previous two channels, we can see that the price touched the bottom line before breaking.
Probably looking to touch the bottom line again before breaking out.
The red lines are buy orders that I've set. I shared these in my private Telegram group yesterday before the dump. So if you want instant updates and signals, please join at www.benkalashnikov.com
Buy Orders:
I've set buy orders at the red lines in case we repeat the pattern that we will bounce on the bottom trend line.
If we don't, then I will use my reserve fiat stash and buy in at the red box areas.
FYI, I'm not saying that we will reach these levels, I'm just planning ahead so I don't panic in case we do. Always have a plan. It will lead to better decisions and reduce FOMO.
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
