Its been a great year and the year 2023 looks blessed.
-We can see a bullish engulfing candle, a buy signal for the next 3 months
Happy trading come next year.
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Same chart zoomed in to a monthly analysis and we observe a nice uptrend start to form
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-Here is an updated chart of the 3 month analysis.
-1 month to the close of the 3 month candle and we can see price struggling to break the 3 monthly supply zone.
-Its however worth to note that we had a bullish big shadow up to the 1/4 ending december; an indicator of trend changing to the bullish side but closing around the zone itself though.
-So might expect a little ranging during the first weeks of this month as price decides which direction to take from 1.06660 zone.
-Zooming in to the monthly time frame we saw february close bearish. We could expect price to go bearish a little further in the first weeks of March but i otherwise believe February could have been a liquidity candle for a bullish continuation.
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-First quarter of the year 2023 closed bullish as anticipated.