Top AVWAP - 2021 yearly open
Bottom AVWAP - May 2020 selling climax
Price is currently compressed between both AVWAPs trading in a range. We deviated above the AVWAP and the 2022 yearly open pivot, confluence with the trendline & 200D EMA.
Many are calling for price to move to the $29,800 area but I can instead see price deviate the bottom AVWAP and then back up to the upper extreme of the range. I feel as if the length of time spent in this range suggests that neither bulls or bears can sufficiently push the price up or down respectively, thus we continue in this range until further notice; 120 days is a short amount of time in market duration terms.
Bottom AVWAP - May 2020 selling climax
Price is currently compressed between both AVWAPs trading in a range. We deviated above the AVWAP and the 2022 yearly open pivot, confluence with the trendline & 200D EMA.
Many are calling for price to move to the $29,800 area but I can instead see price deviate the bottom AVWAP and then back up to the upper extreme of the range. I feel as if the length of time spent in this range suggests that neither bulls or bears can sufficiently push the price up or down respectively, thus we continue in this range until further notice; 120 days is a short amount of time in market duration terms.