Well, that settles it. The last 4h candle of 04/26 led to an indisputably bullish daily close that confirmed trend continuation, shaking the bearishness of the 04/25 retrace candle.
1) We had a clean retrace from the daily 200 MA to the 200 EMA
- historically the 200 EMA has been a stronger support/resistance making this a fairly bullish bounce.
2) We bounced perfectly on the logarithmic 2 1/2 year bottom pitchfork line, further validating this pattern and initiating a rough target of the next pitchfork line @ 13k.
3) The flat kumo cloud is acting as a price magnet @ 13k further drawing the price upwards, making this our decided target for this move.
See comments for link to further time frame analysis + F/A
Expect a retrace around 10400 & 11800 but other than that ride the wave my friends.
Act now or hold your peace ever fourth.
1) We had a clean retrace from the daily 200 MA to the 200 EMA
- historically the 200 EMA has been a stronger support/resistance making this a fairly bullish bounce.
2) We bounced perfectly on the logarithmic 2 1/2 year bottom pitchfork line, further validating this pattern and initiating a rough target of the next pitchfork line @ 13k.
3) The flat kumo cloud is acting as a price magnet @ 13k further drawing the price upwards, making this our decided target for this move.
See comments for link to further time frame analysis + F/A
Expect a retrace around 10400 & 11800 but other than that ride the wave my friends.
Act now or hold your peace ever fourth.
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The previous 12H candle has as well burst through the 200 EMA/MA, flat kumo resistance & previous resistance making these a great price floor for possible entries ~ $9100
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Ding Ding Ding, we have a 12H cloud cloud bull cross with the price above cloud - massively bullish !!
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Short term bearish, not painting a pretty picture with this recent trendline break
(Also there is a nice hidden bullish divergence on the RSI here)