There's an uptrend channel (black lines), but danger lurks around the corner (imo).
Why?
The chart is showing heavy resistance aroud 4300
Resistance red trendline, even the black uptrend line has resistance on that area.
Fib 61.8°area (4309)
Hidden bearish divergence ( Red arrow HH-> LH in the price action, Blue arrow LH-> HH in the RSI)
BUT everything is FINE, that's what we need to think!!! People needs to think it only goes up, but there's a flip side.
What goes up, needs to come down!
Are we in the return to normal fase? It's a big possibility!!! (This is very clear on the Monthly chart (IMO))
Be prepared and tighten your seat belts
But keep in mind IF it this happens, it will not happen in a day or week. This takes a lot of time
Just consider this situation and don't look away, so IF it comes, it will not come like a surprise
Be open-minded
Why?
The chart is showing heavy resistance aroud 4300
Resistance red trendline, even the black uptrend line has resistance on that area.
Fib 61.8°area (4309)
Hidden bearish divergence ( Red arrow HH-> LH in the price action, Blue arrow LH-> HH in the RSI)
BUT everything is FINE, that's what we need to think!!! People needs to think it only goes up, but there's a flip side.
What goes up, needs to come down!
Are we in the return to normal fase? It's a big possibility!!! (This is very clear on the Monthly chart (IMO))
Be prepared and tighten your seat belts
But keep in mind IF it this happens, it will not happen in a day or week. This takes a lot of time
Just consider this situation and don't look away, so IF it comes, it will not come like a surprise
Be open-minded