... the 9800 level although I’ve redrawn my chart with today’s price action in mind. My target levels are unchanged.
As long as price is rejecting from the top line, there is no breakout to trade. As you can see, the threshold for a breakout decreases over time.
If its broken, I’d look for a move to 9800 with potential follow through to 10500. If the bottom trendline is broken, 8550 is extremely likely.
With triangles, moves tend to happen at 3/4 completion of the triangle, essentially the area where price is right now.
Good analysis. I see a push back to $10k on the horizon.
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