Sometime we bounce from a point and show no follow thru. But bouncing from a point with follow through and showing strength gets me thinking. A placed a green line here at 27 cents that to me shows large amounts of strength. It breaks a lot of resistance in this are and is currently holding up to pressure and other key areas. The 6 hr is very impressive to me once again showing me strength against several BTC 60-70 dollar dumps only to come back at test its up areas. Using a ADX on a 6hr you can see how the moves have been supported by the bulls. Looking specifically at the ADX signal line you see a break upwards from the previous trend down and more importantly we see a healthy higher low on the ADX signal with a supporting DI- and DI+ signals gapping. All while the DI- is having lower highs. Once again this shows me strength because its happening in are huge area of congestion. I used a two week to get a better view of things. I did not want to go to far out because i feel sometimes It helps to identify the current situations at play while they are changing a little better for my style of trade. When you zoom out to larger time frames sometimes you get a better view of the entire landmass but you over look the sometimes Key battles/clues that are happening at ground zero.
I highlighted the next are of battle that i believe is key. I remain neutral leaning hopeful we can make it through this key area with a dip back to 28c area for another crack at upwards movements.
I highlighted the next are of battle that i believe is key. I remain neutral leaning hopeful we can make it through this key area with a dip back to 28c area for another crack at upwards movements.