Just... stay... calm
There's no reason to get over-excited right now.
BUT -
I drew those arrows on the monthly chart a few days ago. By March there is an extremely high probability of us breaking down from this formation into the abyss or rocketing out of it to potentially new highs (eventually - not saying it would happen quickly).
For now - with an emphasis on FOR NOW - we appear to have found support on that long-term trendline that goes all the way back to 2012. Finding support on this trendling on a MONTHLY chart is powerful and extremely bullish. This current monthly candle will speak volumes. We could right now simply be in the process of a massive fake-out bullwick to the upside. But if this monthly candle is juicily green, I will be much more inclined to think that the move coming some time in and/or around March will be to the upside.
BUT -
I drew those arrows on the monthly chart a few days ago. By March there is an extremely high probability of us breaking down from this formation into the abyss or rocketing out of it to potentially new highs (eventually - not saying it would happen quickly).
For now - with an emphasis on FOR NOW - we appear to have found support on that long-term trendline that goes all the way back to 2012. Finding support on this trendling on a MONTHLY chart is powerful and extremely bullish. This current monthly candle will speak volumes. We could right now simply be in the process of a massive fake-out bullwick to the upside. But if this monthly candle is juicily green, I will be much more inclined to think that the move coming some time in and/or around March will be to the upside.
Penafian
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