I first posted this idea on 19 March ( link at end of this post )
The idea is that because MACD on the weekly is still Falling bearish and is likely to remain doing so till at least Neutral is reached. This would Mean that PA had to Range in a region to allow that Drop
https://www.tradingview.com/x/Y5TAQTEe/
Things Excellerated though and that date of Mid Late April has now been pushed forward and Now, MACD reaches Neutral around 7th April - NEXT WEEK
Once MACD Neutral is reached, PA could rise with strength behind it....... This moment is getting nearer.... and so the original idea that this would happen over months got condensed in to Weeks and we now have DAYS to wait.
So, on the main chart, we wait to see if PA crosses that overhead resistance ealy next week
HOWEVER, we need to watch this Close as MACD could Drop below Neutral.
This would likely take PA down to that 618 retrace Fib line originaly arrowed.
Another thing backing a possible push is the BITCOIN DOMINACE cotined strength.
https://www.tradingview.com/x/RaSikbzp/
This, to the cost of the ALTS, has contained to rise and as long as it remains above that trend line, people shold buy BITCOIN more than ALTS.
It is that simple
So, lets see what happens next week. This cold be VERY GOOD
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.