Triangles, inside of triangles.
Macro - Descending Triangle = Bullish.
Micro - Ascending Triangle = Bearish.
I believe if we are able to break the upper trend-line, it will be EXTREMELY bullish.
Currently we are trapped inside of an ascending triangle, of which a bounce off of our lower support is still possible.
If we are able to bounce off of the 5800~6000 level and break the upper trend-line, we may be in for the ride of our lives.
If we drop below the lower support, then the bearishness continues.
For now, I am sitting on the sidelines. With how narrow the trend has become, we are looking for a serious break sometime in the very near future.
Good luck everyone and happy trading!
-Achilles
Macro - Descending Triangle = Bullish.
Micro - Ascending Triangle = Bearish.
I believe if we are able to break the upper trend-line, it will be EXTREMELY bullish.
Currently we are trapped inside of an ascending triangle, of which a bounce off of our lower support is still possible.
If we are able to bounce off of the 5800~6000 level and break the upper trend-line, we may be in for the ride of our lives.
If we drop below the lower support, then the bearishness continues.
For now, I am sitting on the sidelines. With how narrow the trend has become, we are looking for a serious break sometime in the very near future.
Good luck everyone and happy trading!
-Achilles