Overall from what I am seeing in these time frames it does NOT look like we are ready to enter a bullish trend in the mid term time frames. We are likely to trade sideways at best allowing time for the green to come out to the side and get above the white energy and the red RSI to come up above 50. At worst the green line falls with the energy and stays below it with the red RSI turning back down. This would mean downward price action is occurring and will likely continue,
Comment:
Comment:
It seems like we are currently in an accumulation zone considering the price is continuing to trade sideways. Expect this to continue until there is no more supply then we will likely have a wyckoff SPRING aka a shakeout before starting our move up. It is possible we DO NOT have a shakeout before moving up, but I find it highly likely that they will want to clear out some longs with weaker entries or too high of a leverage.
Comment:
This chart is the same chart as posted in the idea, just you are able to click on it so you can read the text bubbles and zoom in accordingly
Please like the idea and comment below any thoughts you may have. I would greatly appreciate it, thanks!
Please like the idea and comment below any thoughts you may have. I would greatly appreciate it, thanks!