Looks like we might see a quick move to $10.3K (can we say gap-fill?) as a result of this downward sloping wedge, but I wouldn’t be surprised if stop hunts send the price to approximately $9.1K (one of the targets of the upward sloping wedge) before the move (which would be a retrace to the .618 from the impulse move higher; but if this happens, I think that it will be front run and bought up before it retraces to $9.1K) and then a big rally higher. In any case, I am still expecting a stop hunt liquidating peeps as low as $9450 in price (a decent entry point actually). We shall see ;-) I’m taking a shot with a long trade with some leverage. Let me know your thoughts!
