Since hitting recent highs in July, the blockchain platform has corrected sideways. With that correction, the GoNoGo Oscillator gave an advance warning of the GoNoGo Trend color change by breaking into negative territory.
After struggling with resistance at the zero line, recent price action has enabled the GoNoGo Oscillator to cross back into positive territory. This was a sign that the environment may be changing.
Now, after a couple of neutral amber bars, the current price bar is flagging a “Go” signal suggesting that the trend is now bullish.
If the GoNoGo Oscillator can consolidate above zero here we can look for price to make a break higher.
After struggling with resistance at the zero line, recent price action has enabled the GoNoGo Oscillator to cross back into positive territory. This was a sign that the environment may be changing.
Now, after a couple of neutral amber bars, the current price bar is flagging a “Go” signal suggesting that the trend is now bullish.
If the GoNoGo Oscillator can consolidate above zero here we can look for price to make a break higher.