Major correction coming?
Updated
New to charting and welcome any input.
We've been on a hyperbolic curve and the question is how long it can be sustained. We are also at the top (or close to) of a more intermediate high. Thinking we could go to around 17.000-20.000 before a 40-50% correction to 12.000 or 10.000.. at which point it could shoot back up to 30.000+ according to trend channel or possibly break through the bubble to new lows. What do you think? Either way I would say it's a good time to take some profits around this level.
We've been on a hyperbolic curve and the question is how long it can be sustained. We are also at the top (or close to) of a more intermediate high. Thinking we could go to around 17.000-20.000 before a 40-50% correction to 12.000 or 10.000.. at which point it could shoot back up to 30.000+ according to trend channel or possibly break through the bubble to new lows. What do you think? Either way I would say it's a good time to take some profits around this level.
Note
The strong bulls continue. My new estimate is that we´ll reach somewhere between 20.000-23.000 before falling to support at 16.700 or possibly falling as low as 11.800 (both previous resistance levels).
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