I would like to see an update to this chart: https://www.tradingview.com/x/PjYa65fU/
It's not obvious to me (because another three weeks have passed since he posted that) whether we failed the mid-line or not. But I take Masterluc's words (and the strong bounce off the 1-week 50MA) to mean that we are bullish for the foreseeable future.
It's not obvious to me (because another three weeks have passed since he posted that) whether we failed the mid-line or not. But I take Masterluc's words (and the strong bounce off the 1-week 50MA) to mean that we are bullish for the foreseeable future.
I had a go at drawing the same lines on the same weekly log scale chart.
https://www.tradingview.com/x/qoRIHLgS/
Disclaimer: I'm not entirely sure it means anything.
Thanks. Ideally, we'd only wick through the mid-line, but I'm keeping an open mind here. I should point out that pitchfork lines are fairly subjective based on who's drawing the lines and where they decide areas of confluence are.
Anyway, in the short term, I'm looking for a dip. But ideally it would be a short term consolidation before one leg higher, to form an impulse. Bigger picture, I'm still looking for a push into the lower $7,000s but I think it's really unlikely bears get new lows. Scribble of one possible path on the road to $10,000+:
