Firstly I would like you to pay attention to the 1st Key Level. It is $10.925 level. Why this level is so important to us? Let’s see.
On the Chart I marked two times when buyers were unable to break out through this level, so it seems that it is a very strong level since 15 August, but there are some factors telling us that this time we will break out through the $10.925 level. These factors are - if you look on the two periods you will see that there is a difference in a behavior of the buyers between 1st and 2nd period.
We see that buyers are more aggressive this time compared the previous period. After 1st fall they were unable to break out through the orange line (Mid Level) two times, but after 2nd fall they turned much more powerful than they were to get Upward. And now you can see on the Chart that we were below the Mid Level only once (except the Fake Movement) and we were on our way UP.
So how events should develop in the nearest future? Personally I see a good environment for the healthy growth because market looks very bullish despite the recent dump. I think this time bulls are powerful enough to break out through the $10.925 level. After this happen I think $11.540 level will be the next Key Level!
Please hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not a 100% accurate. No single analysis is. To
make a decision follow your own thoughts.
The information given is not a Financial Advice.
On the Chart I marked two times when buyers were unable to break out through this level, so it seems that it is a very strong level since 15 August, but there are some factors telling us that this time we will break out through the $10.925 level. These factors are - if you look on the two periods you will see that there is a difference in a behavior of the buyers between 1st and 2nd period.
We see that buyers are more aggressive this time compared the previous period. After 1st fall they were unable to break out through the orange line (Mid Level) two times, but after 2nd fall they turned much more powerful than they were to get Upward. And now you can see on the Chart that we were below the Mid Level only once (except the Fake Movement) and we were on our way UP.
So how events should develop in the nearest future? Personally I see a good environment for the healthy growth because market looks very bullish despite the recent dump. I think this time bulls are powerful enough to break out through the $10.925 level. After this happen I think $11.540 level will be the next Key Level!
Please hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not a 100% accurate. No single analysis is. To
make a decision follow your own thoughts.
The information given is not a Financial Advice.