Quote from: exstasie on January 08, 2020, 09:16:43 AM

I'm looking for resistance in the $8,500-$8,700 area. I'm expecting at least a pause there on the way to $10K, but more likely a significant pullback. Here are some bar patterns and squiggles showing how the price action might look:

Quote from: exstasie on January 07, 2020, 07:49:36 PM

Quote from: exstasie on January 08, 2020, 08:44:56 AM

I can see this happening, I feel as there's as much a chance of $10K as $5K now which is promising. Weekly still hasn't proved it's bullish (mid-week, ie no confirmation), even if the Daily is looking very bullish right now by nearly all metrics. The bullish Daily conditions will need to overturn the still-bearish Weekly conditions to prove itself in my opinion. While the Monthly has flipped green breaking the 1-9 month correct (after 4 months), there are still too many weeks left to go to consider this as anything but neutral at best (mid-month, no confirmation)

From another perspective, I see current price level as horizontal resistance prior to forming a horizontal channel. Most people are still thinking either $5K or $10K, fewer are considering a continuation of longer-term accumulation by re-testing the 6's again for confirmation of current valuations:

Quote from: dragonvslinux on December 12, 2019, 05:11:57 PM

That said, if we close above the 21 Week MA currently priced at $8,518, as well as the bearish channel, and price follows through next week, I'd continue feeling unconditionally bullish, like I was at $7,245:

Quote from: dragonvslinux on November 28, 2019, 11:20:21 AM