So what has really happened since that ridiculous pump in late October? Looking at the chart here, there's basically just a few things that happened, and only 1 i consider to be significant. Price exploded off of 7400, barreling through resistance after resistance and topping out at well over 10k. A healthy chunk of those gains were immediately given back, and we...
When it closes through one of those lines it's go time. Breaking up would be the better trade IMO so you could gamble on that, or wait for confirmation. Let's see what the play is.
The pivot lows (blue bulls-eyes) seem to be following a curve that is now trending upward. The pivot highs (green and orange bulls-eyes) on the other hand are oscillating in a zig zag pattern. The lower band of the pivot highs (orange) is starting to follow a curve similar to the pivot lows (blue), while the upper band (green) has been linear in its downtrend so...