Good morning everyone. Today I am looking at the 4hr and not much has changed since yesterday. We are still coasting along at 10250ish and holding steady. The bulls have kept us above 10k for a while now and if we can close the weekly on Sunday evening above the weekly cloud this could be bullish for the price action.
We have been riding the 50 MA on the 4hr for a while. The last few weeks we have dipped below the 4hr 50 MA briefly a few times but it has always reestablished itself as support. That 50 MA is almost merged with the top of the 4hr cloud and that should provide us with some stronger support in the event of a fall. Looking at the chart right now we can see that there is much more support below us than resistance above us... Especially on the 4 hr chart.
I keep bringing it up and Im going to say it again... That golden cross is coming. I may be getting excited over nothing and that has happened before but I am definitely watching this just in case. In fact I looked into multiple alts yesterday and saw that many were about to have a golden cross or just recently went through one. This could be the start of something 2017ish.
I know its easy to get excited but I havent been so bullish in a good while. There is a lot of bullish momentum on the charts right now. The sentiment is strongly bullish. Just remember nothing last forever. Dont be the one caught holding the bags. I hope you all have a good Friday and happy Valentines day. But WTFDIK???
We have been riding the 50 MA on the 4hr for a while. The last few weeks we have dipped below the 4hr 50 MA briefly a few times but it has always reestablished itself as support. That 50 MA is almost merged with the top of the 4hr cloud and that should provide us with some stronger support in the event of a fall. Looking at the chart right now we can see that there is much more support below us than resistance above us... Especially on the 4 hr chart.
I keep bringing it up and Im going to say it again... That golden cross is coming. I may be getting excited over nothing and that has happened before but I am definitely watching this just in case. In fact I looked into multiple alts yesterday and saw that many were about to have a golden cross or just recently went through one. This could be the start of something 2017ish.
I know its easy to get excited but I havent been so bullish in a good while. There is a lot of bullish momentum on the charts right now. The sentiment is strongly bullish. Just remember nothing last forever. Dont be the one caught holding the bags. I hope you all have a good Friday and happy Valentines day. But WTFDIK???