After a correction phase of 20-25% , the market climb up and is dropped down again towards a support level.
As you can see we are having a ascending triangle in which the market will possibly breakout from and hits to the barrier of the resistance level of 34300 EUR from the ATH .
EMA 200/50:
Looking at the EMA of 200/50 it still confirms the upwards trend we are in ⬆️
RSI:
We are seeing a decrease of the RSI since 8th of January.( explains the drop in the market )
With currently having a RSI of 57 we still have a more buying power in the market but is not solid enough for a big push.
We still seeing a upwards trend, it’s just waiting for the market to breakout and push trough the resistance level and create a new ATH🔥
Please let me know what you think of my technical analysis and feel free to like or share your thoughts🙌🏼👨🏼💻
As you can see we are having a ascending triangle in which the market will possibly breakout from and hits to the barrier of the resistance level of 34300 EUR from the ATH .
EMA 200/50:
Looking at the EMA of 200/50 it still confirms the upwards trend we are in ⬆️
RSI:
We are seeing a decrease of the RSI since 8th of January.( explains the drop in the market )
With currently having a RSI of 57 we still have a more buying power in the market but is not solid enough for a big push.
We still seeing a upwards trend, it’s just waiting for the market to breakout and push trough the resistance level and create a new ATH🔥
Please let me know what you think of my technical analysis and feel free to like or share your thoughts🙌🏼👨🏼💻