BREAKOUT success - here's the next level of resistance
The current situation:
1. Price action broke out of the smaller symmetrical triangle that should have been a continuation of the breakout of the larger symmetrical triangle on 9/9. The next level of resistance is the 6HR 50 moving average currently sitting at about 1.35
2. On the daily chart, it seems more apparent to me that this is indeed the recovery and I would expect more buyer volume to show up on the daily for more upward price action.
3. The RSI is in overbought territory on the hourly so I predict a pullback at 1.35 where the 6HR 50 moving average is.
*These are purely my speculations and are not financial advice. You should always do your own due diligence before trading or investing.
1. Price action broke out of the smaller symmetrical triangle that should have been a continuation of the breakout of the larger symmetrical triangle on 9/9. The next level of resistance is the 6HR 50 moving average currently sitting at about 1.35
2. On the daily chart, it seems more apparent to me that this is indeed the recovery and I would expect more buyer volume to show up on the daily for more upward price action.
3. The RSI is in overbought territory on the hourly so I predict a pullback at 1.35 where the 6HR 50 moving average is.
*These are purely my speculations and are not financial advice. You should always do your own due diligence before trading or investing.