Supply running out and demand increasing
Looks like we broke through the trend we've been in for the last few months, but until we close above it and continue upwards nothing is final. Hopefully supply at these lower to mid 3k levels has run out and we can find a new floor somewhere in the 4k area. The RSI is clearly in an uptrend, but I'd like to see the RSI remain above 50 when the correction comes in to confirm the upward momentum.
I also noticed a possible ABCD pattern so if the rally holds we have target area to aim.
I also noticed a possible ABCD pattern so if the rally holds we have target area to aim.
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.