Finally we have something to cheer about. Notice I am not using any MA/EMA on this chart for now. I am only able to use 4 indicators. What I see is a bullish reversal. One of the best trend reversal indicators is the Aroon. We are at the limit on the 4H. Aroon up finally crossed Aroon down on the daily chart. MACD on the daily is crossing into bullish territory as well. Volume has been on increase since mid March with a slight decline in volume and consolidation in April. THe trend lines I have drawn were started weeks ago except the last red trend line. We have broken the most recent red trend line and above the green trend line. We have strong resistance at 17500 sats. Key support is 14000 sats. The black curvedline indicates a cup pattern while the blue curved line is a potential larger cup.
Comment:
www.tradingview.com/chart/jd7gfGgp/
Comment:
www.tradingview.com/chart/jd7gfGgp/
Looking at the weekly chart above. We have a bull shooting star. Volume is already higher than last weeks close. What is troublesome is the 12 MA is still under the 26 MA
Looking at the weekly chart above. We have a bull shooting star. Volume is already higher than last weeks close. What is troublesome is the 12 MA is still under the 26 MA
Comment:
Broke key resistance line, just about hit 20000. I don't think it is over. Waiting for retrace. How far will this go?