A Decisive Push And Close Above 10k Takes Us To 12-14k

This chart is a culmination of my last few. We have broken the triangle earlier than expected, and pushed higher, faster. There is resistance at the top of the range indicated by the horizontal blue line. This is the first hurdle and we made an attempt, and fell back. We usually make several charges to this top and either penetrate or fail, so it’s crucial we pass this line. According to the vertical green block (imochi cloud variation for clarity), we are at the beginning of a larger move UP, so it seems to be a given that we will rise past the line.

The next hurdle is 10k. This is the 200 day moving average, a line in the sand. Getting past this and closing above it takes us higher because a lot of people see it as confirmation the bull has returned. Combined with the 50 day moving average angling up, we should see the return of other investors which will fire up the price.

Parabolic SAR has also turned up, stochastic is showing prices are a little bit overbought, and TD countdown is at a green 2 (very positive but I’d like to see this candle close above the last one)

With all of this said, we could see a rise this weekend, but there are no Gann Matrix Alignments until Monday, so a general price range in this area is expected. Monday we should resume some action upwards.

Looking forward to breaking 10k soon.

Hodl.

Comment:

As stated, we could see a rise this weekend, but still no Gann alignments til Monday. Watch that 10k level. We are rising pretty fast and that will cause a gap on the futures market on Monday as well. We usually start Monday off by closing that gap....so be aware of that as cash prices can go lower at the bell and tjrough the day.

However, his does not negate higher prices from here. This STRONGLY looks like we are going higher, MUCH higher. New All Time Highs Are Coming!