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Now there is still enough mojo to squeeze shorts above the 9 am high, but that is not likely in the short run with all trade below the 1130 am double top.
The overnight trend from last night’s 515 pm low is still intact, but a digestive trade is possible short term that tests the 515p trend support near 1290, and possibly lower given some of the info off the point and figure chart if a triple bottom sell signal is elected on the point and fig chart on print of 1292.00.
1. lower volatility band offers some support at 1288.5 but given the March 21 1291-1296 high to higher high correlation to the March 18 1282-1287 high to higher high, the sell stops below 1287.00 should be elected targeting the lower pitchfork median line sloping into 1285-ish today. 1285 is Friday’s pit session high.
2. A print of 1292.00 should pick up sell stops under 1287.00, and hold up a few points beneath it, in other words.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.