The chart shows that the price has been rising for a while. The volume rose at the support point, that made sense. And then the volume went down, for people were not very confident or they think the resistant point is closer. But now, the volume rose again. We can see that the price keeps going up and people are confident about this situation again.
After the support point, the Bollinger Bands did not show any signal. It just tells us that the price makes solid growth, which sounds great.
MACD is no doubt showing the bullish signal. As we can see, it is very synchronous with the price. The RSI shows the same thing.
How long will the situation last?
Let’s see the Fib I made. Now the price already touched the 0.5 level and nothing shows that the price would turn. So, let’s focus on the next level of the Fib, which is 0.618 level.
After the support point, the Bollinger Bands did not show any signal. It just tells us that the price makes solid growth, which sounds great.
MACD is no doubt showing the bullish signal. As we can see, it is very synchronous with the price. The RSI shows the same thing.
How long will the situation last?
Let’s see the Fib I made. Now the price already touched the 0.5 level and nothing shows that the price would turn. So, let’s focus on the next level of the Fib, which is 0.618 level.
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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.