Bear case: MA50 above, resistance zone MACD about to hit 0 level (typically it acts as resistance from below and could turn down) Hbearish divergence but thats pretty normal with such moves and bearish megaphone line (if this is even a thing), probable Wave 4 of elliot correction
Bull Case: I do not see any technical bullish signs except for the strong bounce of the previous level with a sort of double bottom on 1h, 1d closed above 20 MA more fundamental news lean towards bullish but that could be just hype to trap retail people like us
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As a matter of fact there is confluence of resistance. If it breaks up and retests it - bull run continues, if not - back to mid 40 range.
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Well, ok there are a couple of bull signals:
Got back above black trendline, Seems to have tested it / level Above 20 MA MACD curling up
All in all, still undecided but I lean towards going down unless we see more volume on this move up.
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Careful for fakeouts:
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Fakeout into a triple top or ascending triangle about to break above?
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Triple top breakdown to lower channel. If it dosen't hold -> 45k next. If it does, back to 51k
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Actually, on the 1h it is testing the previous resistance. If it breaksdown -> new lows to be expected, if not, it will visit upper channel;