I'm back with a little bit of new analysis. It has been awhile, so I'm probably quite rusty.
Now is the time to take some profits. We can clearly see we are at a resistance level for the channel long term. We are also starting to see divergence on the 4-HR RSI with a second lower peak, both first and second above 80. MACD divergence forming. Last time we saw this we retraced to support at the .382 fib retracement for this trend. We have the time to build health and return to the .236 at about $8,450 before regaining momentum on this bull run.
Target Price: $8,450
Target Date: 6/26
Now is the time to take some profits. We can clearly see we are at a resistance level for the channel long term. We are also starting to see divergence on the 4-HR RSI with a second lower peak, both first and second above 80. MACD divergence forming. Last time we saw this we retraced to support at the .382 fib retracement for this trend. We have the time to build health and return to the .236 at about $8,450 before regaining momentum on this bull run.
Target Price: $8,450
Target Date: 6/26
Comment:
Been awhile like I said. Not sure why the lines don't scale anymore like they used to. Be sure to adjust for prpeoper scale.