Seeing a lot of bullish momentum here as the last 4hr candle closed well above the rising wedge we were currently in. The current 4hr candle has shown a lot of bullishness too so odds are very good that we may have a successful bullish breakout from the wedge. One thing to keep a close eye on however is the stoch rsi levels...it is currently at overbought levels and will have to come down sooner than later...however following breakouts from chart patterns price action can stay at overbought conditions for more prolonged and extended periods of time than normal..so I wouldn't be surprised if we still had a little further up to go before we start to go sideways again or dip a little. Be prepared for a small drop to happen sooner rather than later though. The eve line/double bottom neckline convergence date was recently pushed back to May 9th when the eve trendline's trajectory needed to be widened slightly but as of now it is still on target for the 9th. Also even though we closed well above the rising wedge on the last candle, keep in mind you always want to see the following 4hr candle close above the wedge as well as a confirmation of the breakout...this current candle still has the ability to suddenly do a 180 degree turn and dip back into the wedge before the candle closes 3 and a half hours from now so just be prepared and try not to let FOMO cause you to buy way too much right before a potential dip...instead laddering in fractional amounts is much wiser. ..Of course this advice is only meant to be for myself not financial advice for others for a financial advisor I am not. Good luck and thanks for reading.
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BUllish breakout fo wedge looks to be confirmed by the bullishreaction of the followup confirmation candle and the volume to go with it. s3.amazonaws.com/tra...shots/2/22c2V1Je.png
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during the beginning of this month long bull run at the beginning of the month the stoch rsi levels were in the overbought zone for over 2 days straight before any kind of dip so this stochrsi level could stay this high for potentially the rest of today and all day tomorrow but it will eventually need to consolidate, I'm guessing when it does it will likely only go sideways an dip only subtly not anticipating any major retracements but I do expect some resistance at the psychological support level of 10k
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excellent breakout of the rising wedge just now and it hit its breakout target of $9645 precisely. It will likely continue bullish until running into the double reinforced resistance of 10,000 psychological resistance(in purple) and the 200 1day Simple moving average (in blue) however now that it hit it's target it may try to ease the rsi a little with a brief retrace and gather a second wind before trying to attack the 200ma...if it does so it is likely just a good time to buy the dip
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oops accidentally posted the thiumbnail instead of the larger image...take 2: s3.amazonaws.com/tra...shots/g/gX91BHXg.png