This is my 1st printed analysis. Please offer your comments thus I will improve.
Drawing a downward triangle following the highs since the last ATH and therefore the lows since the last downtrend began, we have a tendency to see a prisonbreak over the previous couple of days on the daily chart .
This chart uses the log scale to point out true mercantilism strength.
The blue line shows wherever we want to remain higher than so as to take care of the momentum of this prisonbreak. it's the purpose wherever the highest angle of Triangulum can meet the combined SMA/EMA that you see snaking through the candles in a very thick red & Green Line. Staying higher than the blue line can mean the prisonbreak shold hold. If we have a tendency to move below it, we have a tendency to could also be observing a retrace.
The purple arrow shows the doable upward trend if it continues to follow the higher limit of the Bollinger . Provided the prisonbreak holds true, this could be the road to $10k, that is that the next sturdy resistance. At that level, we have a tendency to might even see traders WHO bought at the low mercantilism for profit. an excessive amount of mercantilism can mean a retrace, that may follow the same steep angle downwardly. However, if vendee optimism remains sturdy at that time and that we shut a number of days higher than that level, we have a tendency to could also be certain a Battle of Bull Run. Woohoo!
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