Quote from: dragonvslinux on November 27, 2020, 06:12:14 AM

Not too much to analysis yet, price appears to trading within a distinct volume gap between $16.5-17.5K. Resistance sits between $17.5-18K now, while trading below the 100 MA isn't doing us any favors either. A break of this range will likely determine the future direction, of which I think will be down to strong $15.5K support. We unsurprisingly got a bounce from oversold territory on the 4hr RSI, which is what you'd expect when price remains oversold on the Weekly time-frame.

I had assumed we'd find more resistance on the way back up, but it now seems we are moving above this and bouncing from 50 MA. A very promising sign.

On the Daily chart, price found support three days in a row from the 21 Day MA, further defining the bullish uptrend.

Despite the Weekly chart signalling a reversal, price has been bought up creating a bullish wick, as well as bouncing from the 0.786 retracement from March lows to November highs.

It all looks very bullish, it's hard to deny. I'm still expecting a deeper correction, but if price continues to break resistance levels, it won't arrive yet.