RSI has cooled off very little after the April run up but we were not NEARLY as overextended as other top market cap coins. RSI is currently sitting at 49 which is just 2 points from its ATH for coin base data. Not sure if that is saying much but it’s worth noting. We have an interesting formation that could be a steep ascending channel, a bull flag with a near symmetrical flag or even a bull flag with a descending triangle flag if you ignore BCHs giant wicks. I am honestly leaning towards the steep ascending channel because of the RSI and the MacD which both give the impression this has a lot of room to run and we are gaining bullish momentum even though we just experience a week of healthy sideways action to form a new base of support at the 290. This being said we are just UNDER the center line of the support we built so this could quickly flip to becoming resistance if we drop back into the gray range. We are at a decision point with a fresh indecision doji on the weekly. Hopefully our sorter term time frames will provide some clues as to if we stay in our ascending channel or break into our gray area.
