On the lower time frames (ie, 4hr and under), we're currently forming a pretty clear ascending triangle that, if it plays out the way it "should" (no guarantees, of course - hence why I've labeled this one as "neutral"), would break to the upside some time tomorrow with a target of around 9.4K, which would be a very understandable and logical and expected first higher-time-frame bivouac for this price surge.
If the ascending triangle turns out to be a trick and we break down from it, the teal box would need to hold as support. If the teal box doesn't hold as support, we would go back down to the red box area, which has a lower border line at around 7650.
You can also see clear trend lines on the stochastic and RSI.
On the higher time frames (not shown) - we are finding support on top of the 1-day ichi cloud and resistance from the bottom of the 2-day ichi cloud.
Cheers and happy trading.
If the ascending triangle turns out to be a trick and we break down from it, the teal box would need to hold as support. If the teal box doesn't hold as support, we would go back down to the red box area, which has a lower border line at around 7650.
You can also see clear trend lines on the stochastic and RSI.
On the higher time frames (not shown) - we are finding support on top of the 1-day ichi cloud and resistance from the bottom of the 2-day ichi cloud.
Cheers and happy trading.
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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.