Wait for confirmation pointed on the chart!
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Bull flag might take us to 7.8k
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Last 3 candles shows lots of indecision, it's a very tough fight between bears and bulls right now.
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Bulls are pushing just a bit higher, but bears are putting a strong fight
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If bulls defend this trendline long enough, the next thing can happen
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Not enough buying pressure yet.
We might still fall to 7k to form a nice triangle
We might still fall to 7k to form a nice triangle
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Another sign bears are getting weaker, but we still need more bullish confirmation
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CMF turned positive on the 4H chart which shows less selling pressure. That's obvious on the volume as well, but the problem is we keep making lower lows and keep knocking on the support so there's still high changes that we go to the next support at 6.9-7k
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On the bull side, if we do make a higher high, it's time to go long since every sell has less power and CMF shows buying pressure
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If we do make a higher high @ 7664, we would break above the 1h Ichimoku Cloud which is a signal for short term traders to go long, but bigger volume needs to confirm the breakout.
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Bulls are pushing up with a bullish flag
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