Ichimoku cloud: ⁃ Strong support is ongoing on Senkou A line ⁃ Minute descending triangle ongoing since 9/5, ⁃ Price is above the Chikou line - Position for long
⁃Upward channel is ongoing at lower bottom of the fibonacci channel line RSI - 50 : position undecided, lining with tight/strong volume on both sides At downward descending triangle. Need for strong breakout until 8400~8500 to safely enter in terms of four hour candle volume ⁃ Volume is declining/dying -> Short in current position may lead to decline until 7500~7600 (strong support) MACD almost at golden cross with upsurge of purchasing volume Bollinger band narrowing down to less than $200 level, indicating a sudden breakout on either long or short position.
Elliot Wave analysis ⁃ 1st wave at 7750, 2nd wave 8200, 3rd wave at 8700, Fibonacci retracement indicates 4th wave placement at 8800 and 5th at 9100