4 hour is primed. EMAs, parabolic SAR and MACD at buy signal, ichimoku looking for TK cross. RSI has reset nicely and ADX is in ranging mode. We are at a good POC on the volume profile, and VWAP is positioned correctly. The volume, money flow and oscillators aren’t doing anything they shouldn’t (nor showing much divergence in either direction) I.e. aligned with price movement, but we need an influx of volume to make a push now.
Of importance, we are seeing the Bollinger Bands squeeze and in the last couple of candles they have come inside the Keltner channels indicating getting ready for a big move.
As previous analysis, the strong downtrend resistance from 20k is upcoming at around 8600 with the previous uptrend support potentially turned resistance just before that. Below we have potential support and fib at 75-7600 and then a square up candle yet to complete at 6900.
It’s nice to see the vast decrease in volatility lately, which makes me more bullish than bearish right now. Waiting for final signs but I’m looking for a break upwards and at least a second attempt to break those resistance lines and the similarly positioned 1 day cloud before anything else.
Of importance, we are seeing the Bollinger Bands squeeze and in the last couple of candles they have come inside the Keltner channels indicating getting ready for a big move.
As previous analysis, the strong downtrend resistance from 20k is upcoming at around 8600 with the previous uptrend support potentially turned resistance just before that. Below we have potential support and fib at 75-7600 and then a square up candle yet to complete at 6900.
It’s nice to see the vast decrease in volatility lately, which makes me more bullish than bearish right now. Waiting for final signs but I’m looking for a break upwards and at least a second attempt to break those resistance lines and the similarly positioned 1 day cloud before anything else.
Komen:
And here's that second go at those log chart resistance lines and the 1 day cloud I mentioned. Watching and waiting.
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