1. Price bounced off the 78.6 retracement of the upmove from $6000-$11800
2. The proposed ABC correction may be over with an extended C wave
3. However there are a lot of resistances above
4. Price jumped on news and that is way too much emotions, I dislike a trend change due to news, too obvious, I smell a bull trap
5. But current price is definitely up for now, and we will play this upmove until it turns down
2. The proposed ABC correction may be over with an extended C wave
3. However there are a lot of resistances above
4. Price jumped on news and that is way too much emotions, I dislike a trend change due to news, too obvious, I smell a bull trap
5. But current price is definitely up for now, and we will play this upmove until it turns down
Comment:
Broke upwards just as the consolidation suggests, but there is no follow through and the MACD histogram is turning down with a lower peak. A downturn soon, corrective or impulse, not known yet.
Broke upwards just as the consolidation suggests, but there is no follow through and the MACD histogram is turning down with a lower peak. A downturn soon, corrective or impulse, not known yet.
Watching this very closely, it can go either way, the fact that it is consolidating just below the 200 EMA kind of suggest that it might break upwards. But then again it can get rejected just as easily and crash from here. Important juncture for bulls.