Note: All of what I claim below is simply the way I perceive the market. I am not certain nor do I suggest you take my advice without first taking into consideration what I have said. Whatever you do, be critical of what everyone claims. Those who claim certainty in these markets tend to get hurt the most.
Observations:
Price has been trading within the range between trendlines A & B for a little over 3 years.
On December 17th of this year, price broke out of the range to experience new All-Time-Highs.
The break above this 3 year old range tells me that it is highly probable that we will see price continue to move up.
I suspect that we may come back to trendline B for the retest, then make our way higher.
If it does come back down to retest trendline B and then breaks below, consider it a “Fakeout”. It is not suggested to go long if this does happen.
Thank you for reading,
Have a nice day!
Observations:
Price has been trading within the range between trendlines A & B for a little over 3 years.
On December 17th of this year, price broke out of the range to experience new All-Time-Highs.
The break above this 3 year old range tells me that it is highly probable that we will see price continue to move up.
I suspect that we may come back to trendline B for the retest, then make our way higher.
If it does come back down to retest trendline B and then breaks below, consider it a “Fakeout”. It is not suggested to go long if this does happen.
Thank you for reading,
Have a nice day!