Following on from the breakout of $3588 on November 24th, price appears to be forming a linear bullish
trend. We can identify this when price uses the 20sma as support/resistance as this indicates that the
pullbacks are shallow and short in length of time.
The most recent consolidation period (shaded area) lasted from September 2nd to November 24th and
this occurred following price making a record high. Now that price is creating record highs again,
we want to be mindful that price could consolidate once again.
This does not mean that we stand aside but it does mean we have to tread with caution and enter into
positions gradually so that a lot of our capital does not get tied up in losing positions.
As long as price goes on to create higher highs and higher lows then we should see price move towards
the $4000 round number. We then need to see if this psychological level will act as a strong level of resistance.
We are pretty much bullish in our portfolio and we will continue to look for high probability opportunities and
compound on the profitable assets that we have running.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
trend. We can identify this when price uses the 20sma as support/resistance as this indicates that the
pullbacks are shallow and short in length of time.
The most recent consolidation period (shaded area) lasted from September 2nd to November 24th and
this occurred following price making a record high. Now that price is creating record highs again,
we want to be mindful that price could consolidate once again.
This does not mean that we stand aside but it does mean we have to tread with caution and enter into
positions gradually so that a lot of our capital does not get tied up in losing positions.
As long as price goes on to create higher highs and higher lows then we should see price move towards
the $4000 round number. We then need to see if this psychological level will act as a strong level of resistance.
We are pretty much bullish in our portfolio and we will continue to look for high probability opportunities and
compound on the profitable assets that we have running.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
