Price broke out perfectly from our descending channel, so well that it is consolidating above the parent ascending channel. As we watched the price yesterday, every hour; the bulls seemed weak, but the bear were also indecisive and even weaker. This meant that we did not need as much bullish volume to push the price up.
if price finds support above 9K, we are looking to expand our ascending channel by 2x and will be playing to the up side. if price comes back down and creates a bear flag inside the current ascending channel, we are looking to play with the bears to the down side.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.