We bounced off the famous 760 level which has acted as strong resistance and now support. (aka turncoat) Watch as the price approaches the Strong Bull Channel. If we touch it and go up, it's definitely bullish and our next stop is ~875. If that shows no resistance then we're probably headed to ~1040.
However, If the price breaks through the Strong Bull Channel, then we're going to test the 760 level a few more times before gathering enough steam for another push up.
My bet is on 875 -> 1040 ->1161.
Worst case, big sellers need some $$$ to pay taxes and sell off to $550.
Comments
lanreslim2k5
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what time frame is this
arronschaar
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~875 was nothing, but 910 held up. The bullish channel is barely holding up. We may be visiting 760 is the channel breaks.
arronschaar
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Perfect! we hit 875... Lets see what this resistance feels like.