Black Friday Orange Gold

This Schiff Pitchfork trend is holding and holding strong. Pushing against the resistance, the launch from 5500 floor is certain. When it will return? unknown!

Watch the retracement from the lower bound into the support line. If the support trend is broken, even by 5-6% velocity, then we WILL reduce to the 23.6% (7100) fib level, which is the thick red bound across the middle of the micro chart.

Watch volume trading as Stoch RSI still remains high, which indicates the instrument is oversold (BTCUSD).

CMF is still low, which indicates all the market makers have exited their positions.

MACD is doing a characteristic bounce, meaning black friday, and FOMO is driving this literal BUBBLE to its peak of 9001 USD at the 0% Fib level.

Use regular common sense when trading this bubble.

 

[Currently on my blog you have to right click and expand images to see them full size, I am working to fix this, if you have any suggestions for pleasant zooming features, please leave a comment. Thank you]

 

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