Riding the Bollinger MA to glory
Updated
Just as predicted, we stayed in bull territory and after some consolidation to the 7.6k level we broke our 8k resistance. In the chart linked below, I point out various points in the past few days were we have bounced off the Bollinger MA (RED LINE IN CHART).
As you may know, a bull market will show in the Bollinger bands by staying in upper RSI territory and staying above the MA (for the most part). Below I have highlighted in yellow multiple times over the past few days where we have bounced-off or stayed above the MA and even "ridden" it for hours at a time.
Notice how any time we dipped below the MA it was for various parts of the hour. If we were to expand to a 5m interval, we would see that these dips lasted minutes at a time. These periods of consolidation are what allowed us to rocket past 8k due to overwhelming buy pressure.
This is only my second publication so feel free to offer constructive criticism :)
As you may know, a bull market will show in the Bollinger bands by staying in upper RSI territory and staying above the MA (for the most part). Below I have highlighted in yellow multiple times over the past few days where we have bounced-off or stayed above the MA and even "ridden" it for hours at a time.
Notice how any time we dipped below the MA it was for various parts of the hour. If we were to expand to a 5m interval, we would see that these dips lasted minutes at a time. These periods of consolidation are what allowed us to rocket past 8k due to overwhelming buy pressure.
This is only my second publication so feel free to offer constructive criticism :)
Comment
Reached very strong resistance. if we can get past 8.8k its on to 10.5k
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