Based on the weekly chart we can see that the market is in the uptrend. The price reached 20000.00 level and after that we got a correction movement. When the market dropped to the , formed by SMA50, 6000.00 level and the uptrend line, we got a price reversal confirmed by and the candle. Now the price is at the downtrend line and the market is going to break this resistance and move higher. If so, it will be a solid signal telling us that the market will continue the uptrend.
Let’s look at the indicators. confirms price reversal from the at SMA50. histogram is going to support the upward movement. DMI confirms trend market conditions and becomes again.
The market corrected the previous huge upward movement from 3000.00 level to 20000.00 level and now it has potential for a new movement to the new highs.
Alternative variant: if the price can’t break the downtrend line and drop below 10000.00 level, we should be ready to see the falling to the previous at SMA50.
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