PS: Moving forward I will start posting many of my thoughts and many of my trades to a private group and only members of this group will have access to this.
This group will then have access to my signal trials as I progress to becoming a signal provider.
I will keep you update.
Now looking at this massive structure as a channel with levels, fib levels. The top was confirmed to be the 1.618 fib extension and since Fibonacci is playing its role for new price discovery , it should play support. I have this purple band which acted as resistance in 2019 and recently along with the ATH .
With the macro top and covid bottom, I see the 0.382 having confluence with my purple band as well. so 24k is my number and it was my number when we hit 42k on the way up for a correction. 24K played a role. If this doesn’t’ hold then 20k.
Note, my indicators show downward pressure on the weekly.
As to when to time it to go enter to going long, well that will not be for free.
I will post that in a private group ($50 fee) on a telegram channel.
If your interested, contact me.
All the best,
WEEKLY and MONTHLY chart indicators: Downward pressure
Attached here is also the price action and the trades that you could have taken and the reasons.