Let's see why we expect more bullish pressure coming on the market based on technical items.
a) The price made a new ATH in September 2020, and after that, we observed a Massive Corrective structure. (This type of structures can tell us about the Accumulation process going on)
b) In November, we observed a breakout of the Massive corrective structure
c) Now, after a month of the breakout, we can see a minor corrective structure on the edge of the previous one
d) Based on the current levels and structures, we expect a continuation of the bullish movement IF the price breaks above 354 (Above the previous All-time high)
e) Our Targets are 375.98 as the first level and 402.18 as the second level.
f) IF the price goes in the expected direction, we will wait for a 50 days resolution.
a) The price made a new ATH in September 2020, and after that, we observed a Massive Corrective structure. (This type of structures can tell us about the Accumulation process going on)
b) In November, we observed a breakout of the Massive corrective structure
c) Now, after a month of the breakout, we can see a minor corrective structure on the edge of the previous one
d) Based on the current levels and structures, we expect a continuation of the bullish movement IF the price breaks above 354 (Above the previous All-time high)
e) Our Targets are 375.98 as the first level and 402.18 as the second level.
f) IF the price goes in the expected direction, we will wait for a 50 days resolution.