Liking the look of this chart.
The daily had a bit of a pump yesterday and closed above the all moving averages (12, 26, 50, 100 and 200) plus the 50VWMA (stepped purple line).
Lunyr's been spiking upwards regularly in its consolidation/accumulation phase before retracing back to the ascending support line. Now that the MAs have been cleared they should provide decent support, although I wouldn't discount another visit to the ascending support line. The 100 and 200 are closing in on a golden cross which should help with the case for them providing support. We've had a bull cross on the stoch, we're making higher lows and volume is coming in on the test pumps, which are also clearing asks and resistance above.
Action's been capped by a slightly hidden ascending resistance line which will eventually get cleared to provide additional support.
Plan is to bid the zone around the MA cross (1172-1227) which is a good candidate area for a higher low on the daily, and accept that price may revisit ascending support trendline which could give an opp for extra bids.
Invalidation/exit is a 3 day close below ascending support and/or the 100 and 200MAs.
Targets (under constant re-assessment as action develops or BTC affects things):
1529
1760
2017
2173
2379
2591
2909
Weekly chart showing volume gaps and full potential:
The daily had a bit of a pump yesterday and closed above the all moving averages (12, 26, 50, 100 and 200) plus the 50VWMA (stepped purple line).
Lunyr's been spiking upwards regularly in its consolidation/accumulation phase before retracing back to the ascending support line. Now that the MAs have been cleared they should provide decent support, although I wouldn't discount another visit to the ascending support line. The 100 and 200 are closing in on a golden cross which should help with the case for them providing support. We've had a bull cross on the stoch, we're making higher lows and volume is coming in on the test pumps, which are also clearing asks and resistance above.
Action's been capped by a slightly hidden ascending resistance line which will eventually get cleared to provide additional support.
Plan is to bid the zone around the MA cross (1172-1227) which is a good candidate area for a higher low on the daily, and accept that price may revisit ascending support trendline which could give an opp for extra bids.
Invalidation/exit is a 3 day close below ascending support and/or the 100 and 200MAs.
Targets (under constant re-assessment as action develops or BTC affects things):
1529
1760
2017
2173
2379
2591
2909
Weekly chart showing volume gaps and full potential:
Given how quick we've now re-traced that pump of Saturday, I expect we'll actually re-visit diagonal support for our higher low, which is a bit annoying as it means we'll potentially have to re-break the 100 and 200 daily MAs to continue moving higher.
Let's see, invalidation is clear.
I've also moved the 200MA trajectory a bit on the below chart from the original. I expect it'll now run deepr before curling upwards.