Previous Monthly All Time High Closes and Significance Of Them.

The blue lines show the previous monthly all time high closes. Notice where we are now and the fractal patern formation (or candle pattern formation) now as compared to the blue line below. Now the interesting thing here is that when the monthly candle price closes above the previous all time high candle close (not ultimate high just candle body hight) price has historically never returned below that level.

This price target is currently around 13900 so in the coming months we will see (probably) price bottoming and starting to rise up as it did towards a monthly close above 13900 and then that signals the endish of the accumulation phase and the start of the bull run proper.