Congrats bulls! 3D inverse head and shoulders we have been watching for a week has been confirmed, and both neckline resistances broke on the same move for added bull confidence.
Our monthly higher low is set! Now we zoom out and look for a monthly lower high over the next couple months for the longer term equilibrium to be in play. Only notable volume across the sector would have me shift this as the most likely scenario.
We have now seen +16% in 5 days since the US/Iran news. You better believe people will remember this and potentially react next time there is geopolitical uncertainty. There was also a 500M injection of tether to increase supply by about 13%. Some will say it is printed out of thin air, others will point to large capital in foreign countries... in the end we dont know! But we do know the market sees this as bullish.
No 4 hour consolidation unless we see a break of $7,82o support, the current low of consolidation. Lots of bulls will be looking to buy a daily higher low, with daily EMA12/26 as a support guide. Bulls are not done yet! Setting up for another potential battle with 8k this morning.