Based on my analysis:
It's for weeks I've waited the down move (to under 6K) to occur. It happened 2 days ago .
I think we are in a real up period now for the days to come.
The price should reach 6340 then 6840 USD. These are important steps to consolidate
the up move. I've drawn these lines as green line on graph.
I don't see any other sudden fall to go back below the 6K barrier. Except if there is
another panic to occur, which I doubt.
There should be a big resistance to form around 6600; and this may produce a range
(channel) for some times. That resistance may occur due to the price rebounding on the
green MovingAverage line. That green line will be a resistance to the bullish move.
The price may also be shy to breach the gray line on graph. It should rebound due to
a small resistance. But it should breach the gray ine anyway. If it resists it should fall
to 6260 (green dotted line), but not for long, I think.
Time will tell, but I think a really strong bullish moment is getting in formation.
the 8K and 9K barrier are coming soon.
But : don't take my words for granted, practice and analysis also by yourself.
It's for weeks I've waited the down move (to under 6K) to occur. It happened 2 days ago .
I think we are in a real up period now for the days to come.
The price should reach 6340 then 6840 USD. These are important steps to consolidate
the up move. I've drawn these lines as green line on graph.
I don't see any other sudden fall to go back below the 6K barrier. Except if there is
another panic to occur, which I doubt.
There should be a big resistance to form around 6600; and this may produce a range
(channel) for some times. That resistance may occur due to the price rebounding on the
green MovingAverage line. That green line will be a resistance to the bullish move.
The price may also be shy to breach the gray line on graph. It should rebound due to
a small resistance. But it should breach the gray ine anyway. If it resists it should fall
to 6260 (green dotted line), but not for long, I think.
Time will tell, but I think a really strong bullish moment is getting in formation.
the 8K and 9K barrier are coming soon.
But : don't take my words for granted, practice and analysis also by yourself.