It's been a few weeks so quick recap. Last posting was back on 1/20 from me and bulls had reached $9,195 and were slowly coming back down. I was watching to see if this was the weekly chart consolidating and stated it would confirm weekly was pulling back if the daily chart lost its EMA support. Bulls however held EMA support as shown on this chart. So bulls continued the march higher with $10,540 being the weekly chart level for our last lower high. Currently bulls hit $10,199 over the weekend and we are currently back down to around $9,800. Again, daily chart has still not lost EMA support and this pullback could be something as small as coming back down to 12 EMA or as seen back from our last posting a pullback to 26 EMA to find support before climbing higher. If bulls do lost EMA support on daily, then I am looking at weekly consolidation once again where anything above $6430 would give for a weekly higher low. Daily chart has been in an uptrend and weekly chart is trying to shift its trend to upwards as well and very close to doing so. Ideal scenario to me for the bulls would be let the $10.2k be a lower high on weekly. Give a pullback this week towards $8500-9000 which would lose daily EMA support but be a very healthy weekly higher low to then march to the upper $10,000's and get the weekly higher high to officially change the weekly chart to bullish in my opinion.
Just My 2 Sats!
Just My 2 Sats!
