Just adding to the idea previously posted:
A black upward trendline shows a strong bullish trend from mid-2022 through early 2025. Recently, there’s been a significant breakdown below this trendline, which signals a substantial change in trend from bullish to bearish. On Friday, we tested and rejected this trendline, which at the same time tested a 65% (golden pocket) retracement of the recent move, indicating a possible resistance area after a strong rebound.
I expect the price not to break this level any further.
The target remains 14k and below.
A black upward trendline shows a strong bullish trend from mid-2022 through early 2025. Recently, there’s been a significant breakdown below this trendline, which signals a substantial change in trend from bullish to bearish. On Friday, we tested and rejected this trendline, which at the same time tested a 65% (golden pocket) retracement of the recent move, indicating a possible resistance area after a strong rebound.
I expect the price not to break this level any further.
The target remains 14k and below.
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