DISTRIBUTION OR REACUMULATION
Bearish or bullish pennant, distribution or reacumulation, two main scenarios.
If we are in a distribution phase a visit to the low range at 7.2-6k is on the play, if we are in a reacumulation phase, once 14k area is broken, there is no resistance at all till the ATH. In any case, we should se a weekly candle opening and closing above 12k area as a clear sign of a continuation of the bullish trend, thats been the main resistance of this entire year. Good luck.
If we are in a distribution phase a visit to the low range at 7.2-6k is on the play, if we are in a reacumulation phase, once 14k area is broken, there is no resistance at all till the ATH. In any case, we should se a weekly candle opening and closing above 12k area as a clear sign of a continuation of the bullish trend, thats been the main resistance of this entire year. Good luck.
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