Closing In On My Target
- As expected, we are closing in to my target at $5,250.
- However, I anticipated an impulse up to $6,800 area in the shape of an ABC of some sort but chances of that happening is not looking so good right now.
- As I review the mid term view again with new information I can clearly see that we're repeating the channel pattern. If we look at the previous two channels, we can see that the price touched the bottom line before breaking.
- Probably looking to touch the bottom line again before breaking out.
- The red lines are buy orders that I've set. I shared these in my private Telegram group yesterday before the dump. So if you want instant updates and signals, please join at www.benkalashnikov.com
Buy Orders:
- I've set buy orders at the red lines in case we repeat the pattern that we will bounce on the bottom trend line.
- If we don't, then I will use my reserve fiat stash and buy in at the red box areas.
- FYI, I'm not saying that we will reach these levels, I'm just planning ahead so I don't panic in case we do. Always have a plan. It will lead to better decisions and reduce FOMO.
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.