THe projected breakout is posted here just under 6.7k. At first that seemed like it would clearly allow it to surpass both the 4hr 50ma(in orange) and 100ma(in blue). However the way the 100ma is now starting to tilt upwards could prove to allow it to maintain resistance and get above the projected target price before the price action reaches it....the 4hr death cross is now solidly in effect and would tak a lot more bullish
action to reverse. It's possible but until I see the price action surpass the 100ma and both flip the 100ma from resistance to support and solidify that support...than I have to anticipate that the 100ma will provide some solid resistance especially now that the 4hr rsi
is nearing oversold levels. Of course still very possible we can get more bullish
action to come. For now I'm still neutral but right when the inv head and shoulders
was confirmed I was long to the projected target.