If you look at the Chart you can see the long term channel in green.It will be acting as a strong support. The blue lines are the retracements from new All Time Highs. They are obiously always ranging to the last ATH! If you look at the last mega run towards 20k you can draw a very clear bullish Gartley almost fitting perfectly. The End of the Gartley would be very close to the last ATH again at about 8k. What a coincidence! It altough is the Target so many people are talking about at the moment! It seems to be a very very strong support and a good point for new money flowing into the market. So if this Target is reached, we can expect further upward movement or maybe the next 100%+ run!
Enjoy the ride! :)
Enjoy the ride! :)