The weekly can be broken up into two major parallel trends, as shown above. Important levels are highlighted in white boxes. A drop down could still keep us within a bullish uptrend within both of our long-term trends. We're currently swinging between 32-39k trying to determine our short-to-mid-term direction.
A drop below 32k, and the psychological resistance of 30k could swing down as low as 25k or even 17k, but still remain bullish long-term.
If we break up, we'll likely re-test ATH, and if at any point that is broken, 77k is likely next and could approach just below 100k if we break that.
Levels determined using Fibs, trendlines and parallel channels for confluence.
A drop below 32k, and the psychological resistance of 30k could swing down as low as 25k or even 17k, but still remain bullish long-term.
If we break up, we'll likely re-test ATH, and if at any point that is broken, 77k is likely next and could approach just below 100k if we break that.
Levels determined using Fibs, trendlines and parallel channels for confluence.
