A simple chart that shows the 2 main scenarios for for the next year . Price needs to reclaim the 6k area and CLEARLY hold, closing above that 6k low range in weeky candle and showing strength, and we could be talking about the start of the new bull cycle. But if the price doesn’t hold above 6k, and starts loosing that area without closing clearly above the 6k range we would be retesting the 3k area again . Red and blue lines are just an idea to show the importance of the 6k range and how should the price react at that area, not a path that price will follow to the letter at all.
Good luck.
Published at Wed, 03 Apr 2019 21:13:54 +0000
