We have broken out of Channel 2 in just a few hours with an additional 2% increase in price!! We are now approaching resistance at .27900(stronger than previous) with a good bit of momentum. Im confident we will break through this as well but i'm not sure how long it will take. Once we do break through however, .27900 will become support and im positive it will hold! Ill keep you guys posted throughout the day!
Any questions?? Shoot that shot in the comments!!
Any questions?? Shoot that shot in the comments!!
Comment:
Oh yeah, the Thick red lines creating a channel are Bollinger Bands. I assumed that since we got stuck in a very small channel the Bands would squeeze together causing a "Bollinger Squeeze", giving us strong momentum to continue the uptrend and wack the bears.