It seems very bullish but is on a long TD count and it really would not be a surprise for it to compress the range and then head back to the support level around 3k or so, sometime in the next few weeks.
Until it actually starts to reverse I will continue to have a bullish intraday bias on it but on the monthly chart it's starting to curl upward a little and looks parabolic so I would not count on it continuing straight up forever.
Using measured moves I would really expect it to run out of steam in the region of 3400, so this is probably not a great place for longer term long entries.
Until it actually starts to reverse I will continue to have a bullish intraday bias on it but on the monthly chart it's starting to curl upward a little and looks parabolic so I would not count on it continuing straight up forever.
Using measured moves I would really expect it to run out of steam in the region of 3400, so this is probably not a great place for longer term long entries.
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