1HR - Bullish Overall
There is a SMALL possibility of bearish reversal if price closes below red dash line (8PM EST new daily candle). I DO NOT EXPECT BEARISH REVERSAL.
Since Weekly view is bullish and indicators on 1HR chart are bullish, or just turned bullish, the LONGER TERM BULLISH TREND IS INTACT.
Based on Gaussian Channel and price exactly hitting the bottom channel, I feel this is the fakeout before going to 10K possibly.
If price closes above the $9400 mark (previous day high), bullish trend on Daily is intact.
With weekly trend just turning bullish, I expect at least 2 more positive weeks despite any daily contractions.
Hours do not matter as much as days....just like pennies do not matter as much as dollars. - ME
While the short term trend dictates possible reversals or continuation of the trend, the MAIN trend should be the MAIN driver of your decision (not a 5MIN chart).
Since Weekly view is bullish and indicators on 1HR chart are bullish, or just turned bullish, the LONGER TERM BULLISH TREND IS INTACT.
Based on Gaussian Channel and price exactly hitting the bottom channel, I feel this is the fakeout before going to 10K possibly.
If price closes above the $9400 mark (previous day high), bullish trend on Daily is intact.
With weekly trend just turning bullish, I expect at least 2 more positive weeks despite any daily contractions.
Hours do not matter as much as days....just like pennies do not matter as much as dollars. - ME
While the short term trend dictates possible reversals or continuation of the trend, the MAIN trend should be the MAIN driver of your decision (not a 5MIN chart).
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