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So, at this point in time, I think we’re in a waiting pattern. We just continue more of the same consolidation we’ve been in since basically Christmas time. I think ultimately, we are just going to go back and forth between the $90,000 level underneath and the $110,000 level above. If and when we can break above the $110,000 level, it’s very likely that this market will break out and goes much higher.
In that environment, I would anticipate a measured move of $20,000 to reach the $130,000 based upon the rectangle, although to be honest, it would more likely than not go even higher than that, given enough time. With that being said, I am bullish. I do believe in buying on dips. I also believe in accumulating, which is exactly what I’ve been doing this entire time.
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