CRV has done a fantastic recovery on this new leg up, breaking our resistance just under $3 dollars and quickly making it support!
This is extremely bullish and gives us confidence that we can easily reach $4 which is our next major resistance.
The indicators favor this bias particularlyy MACD and volume which are both bullish on this price ascent. Volume increased as we went up = very bullish and MACD did a bullish cross two days ago, this will last for at least a week or two.
The only time to be concerned is once we approach $4 resistance because we had several rejections at that level as indicated by the lovely yellow hammers. :)
For now, longing this is a nice risk/reward entry. However, be mindful of a possible re-test of our current support, that may provide a better entry, if offered. For now CRV could just pump to $4 without looking back. What can I say, the bears were left behind on this train. :)
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This is extremely bullish and gives us confidence that we can easily reach $4 which is our next major resistance.
The indicators favor this bias particularlyy MACD and volume which are both bullish on this price ascent. Volume increased as we went up = very bullish and MACD did a bullish cross two days ago, this will last for at least a week or two.
The only time to be concerned is once we approach $4 resistance because we had several rejections at that level as indicated by the lovely yellow hammers. :)
For now, longing this is a nice risk/reward entry. However, be mindful of a possible re-test of our current support, that may provide a better entry, if offered. For now CRV could just pump to $4 without looking back. What can I say, the bears were left behind on this train. :)
Like and follow if you liked this idea!
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