"The breakdown of the face can give a push to the upper boundary of the lateral channel."
Now that it has broken about the seller's stove, you're calling for a move to 8476? What happens then? Will it meet resistance at 8476 or break through it?
@IgorPorokh, no problem. I was just making fun at how quickly your bullish prediction came true. I read it at 3AM then went back to bed and slept in. When I woke up it had hit your target. Lucky for me I exited my short position with a small profit before the price took off. This rally may be short lived and could be ready for another short.
@DuchCick, I thought so too at first, but it took too long. If that was all they wanted to do then the price would spike up for 5 or 10 minutes then drop like a rock to continue its downtrend. What I wrote about yesterday
was we may be seeing a Super Bart pattern forming. This morning when it dropped below the rectangle I thought for sure we were getting a Bart. But it didn't fall fast enough and now the price is rising back up above 8500. Someone wants this price supported and they may be going do to another 7% pump tomorrow. We will have to wait and see.
@BDG, We know some was shorting some longing, classic breakout strategies applied. And there were also those who had been long from previous move. - that is logic behind that and may highly correlate with your mentioned "bart pattern" as it triggered stops in profit - make.sense right? Some now has those stops in this opposite move. So it depends, one way or another. But bart is very logical pattern.