Obviously a great day, however I'm still cautiously bearish and I'll explain why. Points marked on the chart:
1) Positive news is that we've formed a golden crossed on the indicators I use (7, 49). Typically I see a big move up once this happens.
2) This crossover can break down as we saw on point 2. On the bullish side, this has now come after potentially a double bottom and with less resistance looking at the volume.
But yes this could be invalidated.
3) I see a pretty clear run up to as high as 10k but, looking at the volume profile on the right we can clearly see anything upto 10k still holds the majority of the resistance (70%).
For those reasons I am still bearish below 10k. If we break above 10k, consider me a bull.
1) Positive news is that we've formed a golden crossed on the indicators I use (7, 49). Typically I see a big move up once this happens.
2) This crossover can break down as we saw on point 2. On the bullish side, this has now come after potentially a double bottom and with less resistance looking at the volume.
But yes this could be invalidated.
3) I see a pretty clear run up to as high as 10k but, looking at the volume profile on the right we can clearly see anything upto 10k still holds the majority of the resistance (70%).
For those reasons I am still bearish below 10k. If we break above 10k, consider me a bull.