Solid Monthly Candle & Momentum through Weekly Candle Closure↗️
The Monthly closed strongly Bullish with a solid engulfing candle of the previous monthly candle. We closed above $29,243 Monthly resistance. Also we closed above the weekly timeframe Resistance level at $30,322. The Monhtly candle closed but we have not see the weekly closure yet. Into the close of the weekly candle I'm anticipating a bullish push to the Upside. Our massive liquidations on Friday I believe served as a catalyst for a clear path forward. Looking at the monthly candle we can expect another Higher High on the next candle since it's in an uptrend and that was confirmed with market structure during the close of March's Monthly candle.
It's my belief that we will soon see our deeply feared $30,730 Daily Resistance Level act as a support for price.
It's my belief that we will soon see our deeply feared $30,730 Daily Resistance Level act as a support for price.
ความคิดเห็น:
It appears that we do not see much of anything as the weekly candle comes to a closure. A range and even slight decline in price. Price did drop below $30,322 temporarily and was quickly bought back up. The monthly candle's first move was to go create a bottom wick and push down. So we were wrong.
ความคิดเห็น:
Not exactly as drawn up but you get the gist of it. Price is moving up with the new monthyl candle after a very nice bullish close on the June monthtly candle. Friday's crazy volatility during the transition of the monhtly candle was expected and I noted that it may have served a purpose to clear a smooth path to the upside.
ความคิดเห็น:
price is currently retesting $30,913 4hr Zone after closing above it on the 4hr timeframe.
