MEGA MEGA IMPORTANT Weekly CHART
Several Key points of Historical Support and Resistances to be aware of
I believe we can find support around the weekly neckline of the potential future Head and Shoulders...
BUT I also believe the Market Makers enjoy pushing the envelope of "market pain" sometimes to initiate as much liquidity as they can, in order to accumulate before letting the market go back up.
Forgive my use of Heikin Ashi averaging candles, but I like to analyze the averaged perspective on the high TFs (Timeframes).
I have to simplify things with my ADHD sometimes. LOL
There is plenty of fear in this range for the paper-handed, over-leveraged margin newbs, and whales love to take advantage of that available liquidity.
In all truth, if the price falls from here, or if the H&S plays out, we can still come down as low as 37.4k and 34.8k and still recover just fine after that, according to historical price SR...
Our latest wick was close to the weekly 55 SMA (thicker blue line)
I also circled the Macro Fib areas of interest in green.
The other key thing I noticed on the Oscillators are the following:
- RSI+BB = RSI crossed the plot line turning it Red on the first HA (Heikin Ashi) Doji
- MCB-VWAP = (yellow line) started crossing below the zero line on that same candle
- These indications started around 4 and 3/4 weeks ago
- Also notice where my bear Cross indicator popped...
Even when I look at the long TFs I still sometimes lack the confidence to spot and project a watchful eye on things like this, with regard to the oscillators and their confluence with the HA candles.
Analysis is ALWAYS a never ending growing process...
I believe we can find support around the weekly neckline of the potential future Head and Shoulders...
BUT I also believe the Market Makers enjoy pushing the envelope of "market pain" sometimes to initiate as much liquidity as they can, in order to accumulate before letting the market go back up.
Forgive my use of Heikin Ashi averaging candles, but I like to analyze the averaged perspective on the high TFs (Timeframes).
I have to simplify things with my ADHD sometimes. LOL
There is plenty of fear in this range for the paper-handed, over-leveraged margin newbs, and whales love to take advantage of that available liquidity.
In all truth, if the price falls from here, or if the H&S plays out, we can still come down as low as 37.4k and 34.8k and still recover just fine after that, according to historical price SR...
Our latest wick was close to the weekly 55 SMA (thicker blue line)
I also circled the Macro Fib areas of interest in green.
The other key thing I noticed on the Oscillators are the following:
- RSI+BB = RSI crossed the plot line turning it Red on the first HA (Heikin Ashi) Doji
- MCB-VWAP = (yellow line) started crossing below the zero line on that same candle
- These indications started around 4 and 3/4 weeks ago
- Also notice where my bear Cross indicator popped...
Even when I look at the long TFs I still sometimes lack the confidence to spot and project a watchful eye on things like this, with regard to the oscillators and their confluence with the HA candles.
Analysis is ALWAYS a never ending growing process...
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