f-73
EssentialUncomfortable place for a bearish flag. Moreover MACD is ugly and lower BB not too far. RSI on its own support ( channel ). Only Stoch RSI looks "healthy". Lately each and every pattern was respected: falling wedge, bullish flag, rising wedge, descending triangle. Now it's time to either confirm or negate this flag ... I'd suggest caution here.
Well expected correction from the tough SMA200/D resistance to SMA100/D support. So far price has found some support onto 0.618 FIB of the last upswing. Falling wedge and possibily a ( quite stretched ) "interim" bullish flag. Price needs to promptly react from here and to move towards and above 7800$ area in order to look for a Cup & Handle. Daily close (...
Chart looks bad, a pullback is needed. Look for FIB 0.382 or 0.5.
Which is encouraging. Yet worth keeping an eye on weekly OBV, triangle tightening means a big move is approaching:
One month later price action still pretty similar. 20 days from break-up to resistance ( dashed line ), both in 2013 and 2018. RSI 51,9 should hold in order to further corroborate similarity.
Another test of this medium term support is likely. Get ready.
Break up of RSI / 1D, as in 2014. Price on resistance.