My thoughts.
Hi,
as you can see on the chart, for the past several weeks we've been stuck in the wedge, ultimately breaking to the upside, very strongly at that. With this breakout we've also broken through the long descending trendline established during previous ATH.
However we've come down in an attempt to get back into the wedge. At this very moment our support is holding as you can see on my chart, however there are still several hours until daily candle closes. If it closes above the wedge, in my humble opinion, it will be a strong signal that the bull market has begun gentlemen.
Once that happens I may update this chart with more detailed targets. Otherwise if that does not happen, I think it's very likely to come down a peg or two, in worst case scenario retesting EMA 50.
Here are some shower thoughts from an Anon (:
as you can see on the chart, for the past several weeks we've been stuck in the wedge, ultimately breaking to the upside, very strongly at that. With this breakout we've also broken through the long descending trendline established during previous ATH.
However we've come down in an attempt to get back into the wedge. At this very moment our support is holding as you can see on my chart, however there are still several hours until daily candle closes. If it closes above the wedge, in my humble opinion, it will be a strong signal that the bull market has begun gentlemen.
Once that happens I may update this chart with more detailed targets. Otherwise if that does not happen, I think it's very likely to come down a peg or two, in worst case scenario retesting EMA 50.
Here are some shower thoughts from an Anon (:
Penafian
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