MeruEU

I would like to see a move lower from here. But it could happen at 5000 level as well. I consider the liquidity line as important for the market makers. So I might have a valid reason to believe that we could see a lower high forming here. Potential targets are marked. Just a newbie trying to make sense of the market. A break of this consolidation would be volatile in eather direction.we have seen a volatile move just as expected. It confirms my idea. first support is met at 3.6k , second one at 3.4k, third at 3.1k. I expect volatile moves. this was just the beginning of a larger corrective move.second target reached.

Till now we didnt see higher lows on the higher Timeframes. Therefore I would like to see a retracement to the 40k area preferably on HIGH volume. There might be a great buying opportunity comming up after that retest. It could potentially go as low as 10k but that remains to be seen.A break above weekly highs (on high volume) would indicate a bullish continuation. I would wait for a retest of the upper line of consolidation (a higher low) to start building positions.We have started the correction from the 71.000 area on good volume indicating further bearish pressure in the coming weeks. 67.700 is a strong support line which we have approached now, if this fails we will go straight to 60.000.second target reached - bounce from here?