We hit our targets in our previous trade, however our entry today looks like going to be higher than our previous exit level. However chart patterns and emas has confirmed. Upper movement. The 50 ema and 200 ema are on top of each other and it is about to break. The break could go both ways yet the previous volume spark and inverted H&S shape with a smaller right shoulder confirms an upper movement. I believe due to this we might break our original upper trend line and push it to the top where we have the two highs of this run. If we break downwards. I believe our target is the bottom trend line. Both of them are likely however I believe due to the inverted H&S with smaller right shoulder i believe we might see a upward movement. As always its just a thought, not an advice.
Previous analysis;
As I was proof reading this, it got confirmed .=)
Previous analysis;
As I was proof reading this, it got confirmed .=)
Comment:
It seems like our initial top trend line is going to hold as resistance. However I do not believe it has fully rejected BTC (YET!!) . Unless we drop below the drawn shoulder we are likely to see an upward movement.