I am a newbie only trading for a few months and also reading a lot of posts on this forum, I hope I can also share my opinion here.
I was this weekend just looking at a naked monthly all-time chart. In my opinion(from a TA perspective) a structure still has to completed before going lower.
1,074x is an all-time hard bottom, under there it can go to the all-time low. But I think before they can go to at least parity, they first have to visit the BO-point of the last cycle up. It went through that BO-point of that cycle but never came back to check it one more tiime.
So I think we might have to visit 1,204x again, with important stops at 1,164x, 1,174x, 1,187x, 1,192x. In my eyes 1,138x was an important level(1/2 of 1,204 and 1,073x).
I could be completely overseeing a lot things but I am a newbie and really want to learn from you guys.
I was this weekend just looking at a naked monthly all-time chart. In my opinion(from a TA perspective) a structure still has to completed before going lower.
1,074x is an all-time hard bottom, under there it can go to the all-time low. But I think before they can go to at least parity, they first have to visit the BO-point of the last cycle up. It went through that BO-point of that cycle but never came back to check it one more tiime.
So I think we might have to visit 1,204x again, with important stops at 1,164x, 1,174x, 1,187x, 1,192x. In my eyes 1,138x was an important level(1/2 of 1,204 and 1,073x).
I could be completely overseeing a lot things but I am a newbie and really want to learn from you guys.