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.
Note
Said 4H candle which very clearly decided direction:(Also there is a nice hidden bullish divergence on the RSI here)
Note
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 ~ $9100Note
FUNDAMENTAL ANALYSIS:(read thread)
twitter.com/FourthCrypto/status/989151713729933312
Note
Ding Ding Ding, we have a 12H cloud cloud bull cross with the price above cloud - massively bullish !!Note
Short term bearish, not painting a pretty picture with this recent trendline break
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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.