Price bounced off the 15 minute and is at 57. is pulling away from the signal line and targeting the side of centerline. OBV continues to lead the narrative as it is hasn't wavered in its push upward. We can also see that price is finding a bit of resistance at the equilibrium of the it has been printing since October 31st's pop. At this point, we want to see price pushing through the dashed black horizontal line that it found resistance at over night in order to avoid a on the smaller TF. A at that area should see price retreating to the top of the small local TR that price moved out of two days ago at $6280/$6300.
I've drawn in a few channels to give you an idea of the levels that I'm watching as price moves. As long as price remains within the , things should be fine. A move through the bottom of the channel sets up the aforementioned test of the top of the local TR below it. A thrust through the top of it should come with the expectation of a pullback toward one of the black resistance lines drawn, depending on how hard the push is and its follow-through. On a move above that, the blue horizontal lines should provide support.
Overall, price remains within the larger two-month-old black TR between $6095 and $6587. Once price moves through the resistance or support of that TR , I will evaluate the movement to decide whether I will enter at that time. Until then, all this little movement is nothing more than noise with a risk that is far too great in exchange for any reward for me.
Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.