Slow climb to 8400
It seems like we are still climbing slowly since my post yesterday towards 8400, I'm still bullish that we can get to 8400 but I was wrong yesterday on the estimate of how long it would take. I've updated this chart to show an estimate that we could see the price target in 1 day and 4 hours approximately.
We've seen steady inclines in buying volume for the past 3 out of 4 4HR candles and in general for the past two full days. We are seeing a bit less interest in terms of overall price movement on a daily chart, which could mean loss of momentum to climb to 8400 (8379 depicted by the purple line of resistance).
We have seen that on a 4H chart the 50 and 200 period EMA is about to cross within the next 2 candles assuming the rate of change in price remains relatively constant.
The 15m chart is no longer showing the bollinger band constriction pattern that I'd have been seeing for the past few weeks around the manipulative pumps and dumps so we may have completely broken out of that pattern.
We've seen steady inclines in buying volume for the past 3 out of 4 4HR candles and in general for the past two full days. We are seeing a bit less interest in terms of overall price movement on a daily chart, which could mean loss of momentum to climb to 8400 (8379 depicted by the purple line of resistance).
We have seen that on a 4H chart the 50 and 200 period EMA is about to cross within the next 2 candles assuming the rate of change in price remains relatively constant.
The 15m chart is no longer showing the bollinger band constriction pattern that I'd have been seeing for the past few weeks around the manipulative pumps and dumps so we may have completely broken out of that pattern.
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