Well, a big simetrical triangle was broken and by this time a bear pennant is in the cards, possible target is in the zone of 5k-6k USD, I think 5K is a good support if this pattern is real.
Seriously, I hope I am wrong with this chart, I don´t want to see another bloodbath.
if you think there are errors in this charting, please comment, comments are welcome.
I mean, how do you get off with analysis like this? CLEARLY the next big target is the 200 day moving average, which is around 8k. Where do you get 5 or 6 k from? Your ass?
blackluster1
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@Tdunlap1310, if you ever have read any book of patterns you would know how to get the target of the triangle breakout and you would know where often pennant appears. Please first you read a book and stop following blindly what others say, moron
Remember all patterns are possible, I think the 8K target is the most likely to happen and I think the posted chart is the worst case, you motherfucker have to be prepared for all scenarios not only the bullish, read and learn
Tdunlap1310
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@blackluster1, Alright well you and your zero followers keep waiting for 5k.
blackluster1
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@Tdunlap1310, Alright you keep waiting for 200 day MA
hors3sho3
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I would say target is $8,000 looking at the left side of the chart.
blackluster1
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@hors3sho3, well, 8K really seems a strong support for me too, I have placed nuy orders to this price too, if this support fails I think 5K will act very well based on previous downwards