I challenge anyone to find something bearish on this chart.
2+ year trend line broken and back tested.
Descending broadening wedge broken and back tested.
21W EMA support for 4th week in a row.
$10,550 critical resistance flipped as support.
Weekly stochastic RSI reset looking to cross bullishly.
Price tends to moves in channels and currently we are rising out of these long term resistance. We just made the bottom touch of this channel and the top is the next fib level at 1.618 and weekly supply zone. Once this level is hit I would have to expect a major sell off and pullback to or even below $9,700.
This is just my opinion and not trade advice.
2+ year trend line broken and back tested.
Descending broadening wedge broken and back tested.
21W EMA support for 4th week in a row.
$10,550 critical resistance flipped as support.
Weekly stochastic RSI reset looking to cross bullishly.
Price tends to moves in channels and currently we are rising out of these long term resistance. We just made the bottom touch of this channel and the top is the next fib level at 1.618 and weekly supply zone. Once this level is hit I would have to expect a major sell off and pullback to or even below $9,700.
This is just my opinion and not trade advice.
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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.