Hi guys,
So it seems that price movement follow a compressive price convergence with these supports and resistances. Right now, price is testing the MA25 resistance and i think it will fluctuation around this lvl for a week or so. On the mid term, i expect the price to test around 10-10.5k at the upper resistance. I have an idea about the grand pattern (ABCDE compressive triangle) but I will wait and post an update once/if we get to 10.5k then light pullback which will confirm the pattern. Low volume correlate with the low price fluctuation and the price convergence toward the apex.
Interestingly, we have a weekly imminent bullish crossover. The last one was around the end of january and start of febuary of 2019 where we can see the price rise from 3k to 11k or so. I work with weekly MACD because they are reliable when conjugated with other TA method.
Overall, low fluctuation short term with rise to 10-10.5k mid term then light pullback.
So it seems that price movement follow a compressive price convergence with these supports and resistances. Right now, price is testing the MA25 resistance and i think it will fluctuation around this lvl for a week or so. On the mid term, i expect the price to test around 10-10.5k at the upper resistance. I have an idea about the grand pattern (ABCDE compressive triangle) but I will wait and post an update once/if we get to 10.5k then light pullback which will confirm the pattern. Low volume correlate with the low price fluctuation and the price convergence toward the apex.
Interestingly, we have a weekly imminent bullish crossover. The last one was around the end of january and start of febuary of 2019 where we can see the price rise from 3k to 11k or so. I work with weekly MACD because they are reliable when conjugated with other TA method.
Overall, low fluctuation short term with rise to 10-10.5k mid term then light pullback.
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micro TA here :
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little pullback as expected. still maintaining 10.5k long term but added the other scenario:
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following the projection :
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On going
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I expect some few more days to finally hit target and close this post. Then pull back expected after we hit 10-10.5k, then full update.
