# The volume continues to upset again which has been mentioned in previous analysis. This is the main point for bull to consider letting bear to run its course and test the $6000 level.
# Bull soon may have to accept situation is not on their side. Their only chance is to get above the yellow line ($7400 resistance) and turn it into support. Although breaking $7600 resistance is more likely signal for bullish run.
# Bollinger Band starts to widening again with downward pressure continues. The green rectangle area ($6000-$6500) is the area where the buying interests might get in again (lower & better price) and could provides bull with proper leg and trajectory to move forward once again.
* Disclaimer : DYOR, this merely an observation and opinion.
# Bull soon may have to accept situation is not on their side. Their only chance is to get above the yellow line ($7400 resistance) and turn it into support. Although breaking $7600 resistance is more likely signal for bullish run.
# Bollinger Band starts to widening again with downward pressure continues. The green rectangle area ($6000-$6500) is the area where the buying interests might get in again (lower & better price) and could provides bull with proper leg and trajectory to move forward once again.
* Disclaimer : DYOR, this merely an observation and opinion.
Comment:
A rejection at $7000 level could be the first sign of confirmation of this analysis, so watch out for bull trap at that area.
Comment:
Bull gave a pretty good fight, let it go bull!
Comment:
We have a mexican standoff here, price has been stuck in tight range over the hours now, one probable cause is the easter weekend. No one dare to make first move, the standoff is expected until weekly close, $6900 is the level to watch here.
Comment:
The standoff end! bull made a breakthrough of $6900 and $7000. We still considering our option, with current bias slightly change into bullish. If bull manages to stay at current course and maintaining above $6900 on the weekly close, then it will give a confirmation of upward trend. Bear have to react quickly now!
