TLDR: The blue box will confirm our direction. The direction we break through will determine the way we will go for the next few weeks. For up we need to go above 42100$, to go down we need to make it all the way below 38500$.
We are hitting the top of one channel and entering the bottom of another. The markets are starting to overheat with buying, but we are nearing a critical zone for massive weekly gains. Purely from price action, we are accumulating after an uptrend, which signals that we are preparing to go higher, but at the same time the indicators are not cooling off to support another run up.
We are hitting the top of one channel and entering the bottom of another. The markets are starting to overheat with buying, but we are nearing a critical zone for massive weekly gains. Purely from price action, we are accumulating after an uptrend, which signals that we are preparing to go higher, but at the same time the indicators are not cooling off to support another run up.