We have been consolidating for over a month now in the 55-61k range, forming a massive ascending wedge/triangle. While we broke out of that formation a few days ago, no explosive move has been made. We are now retesting the previous resistance of the massive triangle on the 4 hour charts and we have formed a smaller symmetrical triangle on the 1 hour candles. This is usually a neutral pattern , in a bull market it is a trend continuation pattern, which should be bullish. I believe this small triangle will ultimately decide wether we break up to new highs or down to a short term correction. Possible long bet at the break of the triangle , ride it to new all time highs and take profits around 64500 and again at 68000. We are all bored but this triangle will be breaking either tomorrow or the next day! Stay safe out there.
Stay safe out there !
Stay safe out there !