Looks like we're forming a head and shoulders pattern thanks to a huge buying volume. Unfortunately that volume was only short term, so I wouldn't count on it to support the trend. If the price stays above 1225 for the next 3-4 hours we might see the inverse H&S pattern, else I expect a partial sell-off (of the spiked volume) and the price will probably drop to current support level at 1000. If we do get to the inverse H&S pattern, but fail to support the dip of the second shoulder at around 1000-1050, I suspect we'll retest the 800 levels. Judging from the lack of volume, I expect the price to drop to around 1000
RSI has been overbought
MACD is about to cross the signal line (no worries as long as they're above the center/base line)
Expecting SMMA50 to cross the trend somewhere between 1050 and 1100
Gwilasean
⋅
SMMA 50 crossing under the candles, might indicate we're about to go down some more
RSI has been overbought
MACD is about to cross the signal line (no worries as long as they're above the center/base line)
Expecting SMMA50 to cross the trend somewhere between 1050 and 1100