1. Two days ago, prices succeeded to exist the major supporting (green) zone and fluctuated for testing between low MA curves (20 & 50). For now, prices increase by 12% since 15/03/22 when the lowest price level was performed.
2. At the moment, bears won the battle to enter the major resistant (red) zone and pull up the prices over the previous resistant $98.9x.
3. At the 23.6% level on Fib pattern, a pivot line was generated where prices fluctuated over that level and perform a higher price @ $106.09.
4. Bulls are increasing their power slowly and wisely to exist the testing zone in the direction of the upper resistant @ 38.2%.
5. Breaking the $108.5x level open the way for prices to hit the first target @ $113.1x and break the upper limit of regression channel.
6. As built model interpretation will not be completed unless trader combine the RSI indicator to complete the whole image. For short-term traders, they should trace the intersection between RSI-EMA10 and RSI curve to decide the buy and sell points inside the testing zone before exit confirmation to next level and hit the said targets.
Tools used in analysis were Fib pattern, double top pattern, MA ribbon, Lin regression, and RSI indicator.
2. At the moment, bears won the battle to enter the major resistant (red) zone and pull up the prices over the previous resistant $98.9x.
3. At the 23.6% level on Fib pattern, a pivot line was generated where prices fluctuated over that level and perform a higher price @ $106.09.
4. Bulls are increasing their power slowly and wisely to exist the testing zone in the direction of the upper resistant @ 38.2%.
5. Breaking the $108.5x level open the way for prices to hit the first target @ $113.1x and break the upper limit of regression channel.
6. As built model interpretation will not be completed unless trader combine the RSI indicator to complete the whole image. For short-term traders, they should trace the intersection between RSI-EMA10 and RSI curve to decide the buy and sell points inside the testing zone before exit confirmation to next level and hit the said targets.
Tools used in analysis were Fib pattern, double top pattern, MA ribbon, Lin regression, and RSI indicator.