Looking at the descending flag from ATH, we are near the top of the channel and are testing the long-term 50% retracement---which was recently strongly rejected (long 13% wick) .
However, I believe momentum continues to build to the upside. The price appears to be consolidating into the (admittedly heavily skewed) funnel. We may see major volume in the next two hours.
I am going long with a $300 target.
However, I believe momentum continues to build to the upside. The price appears to be consolidating into the (admittedly heavily skewed) funnel. We may see major volume in the next two hours.
I am going long with a $300 target.