Price is overall Bullish ! (Monthly, Weekly, Daily) ***Based Off Pure Price Action Market Structure***
Currently Ranging in a triangle which will eventually POP!
Price has 3 options.
1. To Pop Triangle Resistance created NEW FOUND SUPPORT to continue its Bull RUN!
2. Somehow break Support of the Triangle and creating NEW FOUND Resistance to PUSH price Further down.
3. Continue to Consolidation in this Triangle a bit longer until it decided to POP!
From where the Market stands now My Bias is moved toward option 1 considering the insane amount of wicks/exhaustion coming from the Sellers!
Pretty much a waiting game now.
Long Term Projection: 4757.20
Currently Ranging in a triangle which will eventually POP!
Price has 3 options.
1. To Pop Triangle Resistance created NEW FOUND SUPPORT to continue its Bull RUN!
2. Somehow break Support of the Triangle and creating NEW FOUND Resistance to PUSH price Further down.
3. Continue to Consolidation in this Triangle a bit longer until it decided to POP!
From where the Market stands now My Bias is moved toward option 1 considering the insane amount of wicks/exhaustion coming from the Sellers!
Pretty much a waiting game now.
Long Term Projection: 4757.20