Hello traders.
1. Weekly chart
Stochastic RSI pointing up.
The price has reached the 1.68 target of the projection and also the diagonal Fibo channel, a well-known target.
2. Daily chart
I plotted two possible scenarios, an optimist with a green arrow and a pessimist with a red arrow.
The price apparently corrected on the 50% retracement:
The correction also respected the Arnaud Legoux moving average of 89:
And it stayed above the exponential moving averages of 8 and 21:
Analyzing 21-period Bollinger Bands, with regularized exponential mean and Extreme Stochastic DMI:
The price tried to stay above the average for 3 times as per the red circles.
It's testing again, to see if it goes back down to the green circle.
The Extreme Stochastic DMI indicates bullish continuation pointing up.
3. 4-hour chart
Price appears to be undefined in the range between the 200 exponential and simple moving averages
The price needs to stay above 1,272 Fibo channel, otherwise it will test the next level at 1,382.
1. Weekly chart
Stochastic RSI pointing up.
The price has reached the 1.68 target of the projection and also the diagonal Fibo channel, a well-known target.
2. Daily chart
I plotted two possible scenarios, an optimist with a green arrow and a pessimist with a red arrow.
The price apparently corrected on the 50% retracement:
The correction also respected the Arnaud Legoux moving average of 89:
And it stayed above the exponential moving averages of 8 and 21:
Analyzing 21-period Bollinger Bands, with regularized exponential mean and Extreme Stochastic DMI:
The price tried to stay above the average for 3 times as per the red circles.
It's testing again, to see if it goes back down to the green circle.
The Extreme Stochastic DMI indicates bullish continuation pointing up.
3. 4-hour chart
Price appears to be undefined in the range between the 200 exponential and simple moving averages
The price needs to stay above 1,272 Fibo channel, otherwise it will test the next level at 1,382.
