Looks like we broke straight through the 3150ish resistance wall for like the 20th time this week.
Unless we close the day mid 3300, I'm still not convinced that there won't be another correction before the push to 3500. D1 volume has been weak lately and resistance is causing a lot of sideways action which isn't favorable in a bullish cycle.
In contrary, the weekly chart looks very nice and poses similar patterns to the start of our last bullrun around 11/16.
TLDR: Close daily mid 3300 = happy; Close daily below 3300 assume fakeout = sad
P.S. I'd like to point out that I've been broadly using the terms bullish and bearish in some of my previous posts, which have referred specifically to the prediction set for that day. In no means do I believe we are in a bearish cycle at this time; I plan to clarify this better in future posts.
Unless we close the day mid 3300, I'm still not convinced that there won't be another correction before the push to 3500. D1 volume has been weak lately and resistance is causing a lot of sideways action which isn't favorable in a bullish cycle.
In contrary, the weekly chart looks very nice and poses similar patterns to the start of our last bullrun around 11/16.
TLDR: Close daily mid 3300 = happy; Close daily below 3300 assume fakeout = sad
P.S. I'd like to point out that I've been broadly using the terms bullish and bearish in some of my previous posts, which have referred specifically to the prediction set for that day. In no means do I believe we are in a bearish cycle at this time; I plan to clarify this better in future posts.
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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.