I wrote this analysis up this morning, but it's still relevant, because nothing has changed since then. Price is still going sideways in the consolidation zone. This is the first chance I had to share this post. I hope someone finds it useful. Full discolosure: I am not a professional analyst. This is an amateur attempt at chart analysis, and should be judged accordingly.
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~ Seldons Plan
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This definitely has a calm-before-the-storm vibe! If we lose this 6.3k zone, we could see a big lurch down.
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Yeah. It looks like this may be starting to play out towards the down side, but it’s still too early to be sure. I am watching and waiting. If there is a high volume breakout to the upside I will try to jump in on it if I’m there to see it happening, but it seems unlikely at this point. I think the smart money is wisely waiting for price to fall below 6k again.
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