Several Goals to Accomplish to Confirm Sustained Upward Pressure

Simply pointing out goals we need to accomplish in order to stand a chance of confirming a reversal to SUSTAINED upward pressure in January, 2020. I'm including the 3-Day chart again below to make it easier to read because TradingView's platform likely scrunched up the cover chart.

تعليق:

If we do breakout above the Yellow 20-MA in the 3-Day TF, do not be surprised if we have a pause and/or brief pull-back at my 0.786 FIB at $7,820 before continuing up to TRY to achieve the next goal at the Green 50-MA. The final goal is the 1.0 FIB at $9,948.98. If we can reach $9,948.98, we stand a decent chance of that being high enough to allow room for a brief consolidation event downward before continuing upward once again.

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تعليق:

Looks like the Green 50-MA and/or Blue 100-MA in the 3-Day TF's are our next stop more than likely. THEN we should see a brief pull-back. I will keep a close look on the indicators as we approach the 50-MA and 100-MA in the 3-Day to see if we have a chance of running up to the Magenta 1.00 PRIMARY FIB at $9,948.98.

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Made a miner correction to the Blue Text Bubble in this 3-Day TF:

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Added White Circles back in history on the Stochastic RSI in this 3-Day TF to show we may have a dip the NEXT 3-Day candle. It's possible to see a dip in the Stochastic RSI on the current 3-Day Candle I suppose, but I'm actually expecting a dip during the NEXT 3-Day Candle I'm anticipating a bounce back up of course.

تعليق:

If the price action would run up to the Magenta PRIMARY FIB at $9,948.98, this would give us room to fall back down to the Yellow Weekly 20-MA to begin acting as support in a similar way the Yellow Weekly 20-MA acted as support in 2016 and 2017.

Weekly TF: