Usually when the price reaches a HVN /HighVolumeNode/ on the VPVR, that means
it's a consolidation time. If the force is strong with the bears, they can drive the market down
to the second HVN and again it is more than likely that we see a nice consolidations at these points.
Bullish scenario: Bears struggle to drive the price down to the second HVN and we see a nice
uptrend to ~8.1/~8.3k where our first major resistance is, again based on VPVR.
Bear scenario: HVN 1 & 2 are breached, then we have a LVN /LowVolumeNode/, which basically
means the market is much more likely to rally through it and finally stop @ our HVN 3 which is a big big support.
n.b. Nevertheless an uptrend is imminent, so heads up! ;)
it's a consolidation time. If the force is strong with the bears, they can drive the market down
to the second HVN and again it is more than likely that we see a nice consolidations at these points.
Bullish scenario: Bears struggle to drive the price down to the second HVN and we see a nice
uptrend to ~8.1/~8.3k where our first major resistance is, again based on VPVR.
Bear scenario: HVN 1 & 2 are breached, then we have a LVN /LowVolumeNode/, which basically
means the market is much more likely to rally through it and finally stop @ our HVN 3 which is a big big support.
n.b. Nevertheless an uptrend is imminent, so heads up! ;)
Comment:
We hit the first HVN @ 8k from the bullish scenario. Some side movement is exptected at these HVNs. Let's see how far can we go from here.