Extreme tightening Consolidation Range indicate an imminent Breakout in the next 1 to 2 days trading sessions.
A breakout Above $3,922 will indicate a strong Bullish Short Term Move.
A breakout Below $3,700 will indicate a strong Bearish Short Term Move.
RSI @ 50 = midway level
MACD = Even
BUY long signal @ $3,925
SELL Short signal @3,699
Note: EMA (9,CLOSE) crossing MA (12, CLOSE), RSI @ 40 and climbing. Compare to historical trend and this is an initial BUY entry alert with a stop loss at $6,774 support value @ crossing. Confirmation of Up Trend when EMA (9) crosses EMA (12) to the upside.
Using the Daily Chart, one can see how a bullish long-term entry starts and is confirmed.
Buying after this kind of confirmation prevents trying to speculate on catching the exact bottom,
That's impossible.
The trend direction is indicated by the crossing of the green EMA line over the Blue MA line. When this occurs at or below an RSI of 30 oversold or 70 overbought is a CLEAR SIGNAL of the direction of the price action to proceed.
The price action combined with RSI Oversold indicator gives a great entry point for a quick +5% profit target. Minimizing loss with a tight Stop loss of -0.47%. Rationale is if the market has dumped this much and oversold. Then upon recovery it should go up about +5% to test the upper exponential moving average resistance. There should be buying pressure in the...
