April 1 - 1 Week time frame
MOVING AVERAGES
Price broke the resistance of 50 sma and 200 sma.
100 is far above. It looks like the price may get to 100 and find resistance at 32500. This will be a great confluential point for forming the upper line of a symmetrical triangle.
COLOR CODED
50 sma is green but sloping down
15 is red but sloping up and in this case it is obvious that the price advanced up but those two moving averages have to be green for a confirmation of upward move.
CHART PATTERNS AND TREND LINES
Price broke the 25k resistance and confirmed the brake
In this case I believe again we are going for a symmetrical triangle and the previous patterns were invalidated.
A resistance at around $29 500 if it brakes it may reach to the next line you see on the chart at $32 500.
DIVERGENCES
RSI
The bearish divergence is still on the horizon. Signaling a resistance and reversal.
STOCHASTIC bearish divergence
RSI, STOCHASTIC, VOLUME, MACD
RSI
Currently above 60 which is perfect if price is to go up from here.
STOCHASTIC
Stoch at the 80 line is not ideal. I would like to see it at the 20 line for a better entry
MOVING AVERAGES
Price broke the resistance of 50 sma and 200 sma.
100 is far above. It looks like the price may get to 100 and find resistance at 32500. This will be a great confluential point for forming the upper line of a symmetrical triangle.
COLOR CODED
50 sma is green but sloping down
15 is red but sloping up and in this case it is obvious that the price advanced up but those two moving averages have to be green for a confirmation of upward move.
CHART PATTERNS AND TREND LINES
Price broke the 25k resistance and confirmed the brake
In this case I believe again we are going for a symmetrical triangle and the previous patterns were invalidated.
A resistance at around $29 500 if it brakes it may reach to the next line you see on the chart at $32 500.
DIVERGENCES
RSI
The bearish divergence is still on the horizon. Signaling a resistance and reversal.
RSI, STOCHASTIC, VOLUME, MACD
RSI
Currently above 60 which is perfect if price is to go up from here.
STOCHASTIC
Stoch at the 80 line is not ideal. I would like to see it at the 20 line for a better entry