This is not a deep analyses, just one to show you the Key Supports in case you are planning to go short at some point.
Do not forget, we must never short something just because it looks expensive. Overmanipulated mkts can become evenmore extreme as CBs go all in.
Daily: Bullish, all time high, etc. looking at this time frame if you want to fade the move, thinking it is overbought again, buy Put options rather than go short outright. Outright bearish positions are not more, than top hunting, or gambling.
4000 is becoming a strong support again.
4 Hrs: Absolutely bullish setup, with a steep bullish trend. First support is trendline and Kijun Sen at 4110, more important second support is at horizontal key level and Kumo: 4058.
1 Hr: Bullish. Important supports are appr. same as on 4 Hrs: 4110 (Kumo) and 4057 (horizontal key level)
As you see, we are still far away rom any proper counter trend sell signals.
Even if the steep short term trendline breaks, it can be retested before Price reverses down. It can also happen that the trend will continue in a less agressive (less steep) mode. That's why I prefer comparing Prece to averages and evaluating avergases to each other rather than making decisions purely on trendlines.
You can already set your price alerts at levels 4110 and 4060. Real counter trend short will be reasonable only below 4060.
Do not forget, we must never short something just because it looks expensive. Overmanipulated mkts can become evenmore extreme as CBs go all in.
Daily: Bullish, all time high, etc. looking at this time frame if you want to fade the move, thinking it is overbought again, buy Put options rather than go short outright. Outright bearish positions are not more, than top hunting, or gambling.
4000 is becoming a strong support again.
4 Hrs: Absolutely bullish setup, with a steep bullish trend. First support is trendline and Kijun Sen at 4110, more important second support is at horizontal key level and Kumo: 4058.
1 Hr: Bullish. Important supports are appr. same as on 4 Hrs: 4110 (Kumo) and 4057 (horizontal key level)
As you see, we are still far away rom any proper counter trend sell signals.
Even if the steep short term trendline breaks, it can be retested before Price reverses down. It can also happen that the trend will continue in a less agressive (less steep) mode. That's why I prefer comparing Prece to averages and evaluating avergases to each other rather than making decisions purely on trendlines.
You can already set your price alerts at levels 4110 and 4060. Real counter trend short will be reasonable only below 4060.