This idea is valid if and only if the neckline (purple support) is aggressively broken.
The buy zone:
Anywhere between the green support and $7,082.
It is imperative that the green support holds. If broken, the probability of the price getting wrecked is extremely high.
That being said, I would not be surprised to see a bear trap a few hundred dollars below the green support.
Proceed with caution.
Let's hope the green support holds. Else, if broken, the entire market will suffer greatly.
The buy zone:
Anywhere between the green support and $7,082.
It is imperative that the green support holds. If broken, the probability of the price getting wrecked is extremely high.
That being said, I would not be surprised to see a bear trap a few hundred dollars below the green support.
Proceed with caution.
Let's hope the green support holds. Else, if broken, the entire market will suffer greatly.