I wrote this analysis up this morning, but it's still relevant, because nothing has changed since then. Price is still going sideways in the consolidation zone. This is the first chance I had to share this post. I hope someone finds it useful. Full discolosure: I am not a professional analyst. This is an amateur attempt at chart analysis, and should be judged accordingly.
NOTE: This is not investment advice. Everything written here is for educational or entertainment purposes only. Always do your own research before you invest, and never invest more than you can afford to lose.
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~ Seldons Plan
Writer | Trader | Traveler | Father of 5
This definitely has a calm-before-the-storm vibe! If we lose this 6.3k zone, we could see a big lurch down.
Yeah. It looks like this may be starting to play out towards the down side, but it’s still too early to be sure. I am watching and waiting. If there is a high volume breakout to the upside I will try to jump in on it if I’m there to see it happening, but it seems unlikely at this point. I think the smart money is wisely waiting for price to fall below 6k again.