Very quick & simple update chart.
This is a follow up to this chart posted ~14 hours ago:
I consider the previous chart to be invalidated. Slightly increasing volume, bullish 4h, higher lows, and a retest of $8,100 all point to a move up. I believe we will enter the green rectangle within a matter of hours.
The past relief rallies dropped off quicker than this one, indicating stronger support and the end of the short-term downward move.
Green lines indicate successful upwards recoveries, blue lines indicate relief rallies.
(A drop below $8,000 invalidates this chart and confirms short-term bearish price action.)
Like or follow if you want me to post more!
This is a follow up to this chart posted ~14 hours ago:
I consider the previous chart to be invalidated. Slightly increasing volume, bullish 4h, higher lows, and a retest of $8,100 all point to a move up. I believe we will enter the green rectangle within a matter of hours.
The past relief rallies dropped off quicker than this one, indicating stronger support and the end of the short-term downward move.
Green lines indicate successful upwards recoveries, blue lines indicate relief rallies.
(A drop below $8,000 invalidates this chart and confirms short-term bearish price action.)
Like or follow if you want me to post more!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.