There's just one day ahead of monthly close and right now it's all about that close. If we manage to close at $37,253, we will get a doji candle on the monthly chart and then a pull back makes sense. I bet we will pump at the last hours to get this, just like the past few candles. It looks so engineered to me, given the empty volume candles. I don't like the price / volume divergence as the volume should increase in an upward trend. We stayed mostly under the average and yet here we are at 36k. I think it's more risky to buy here than 30k as we are approaching to the top of trading range. Patience required.
Let's review the bullish case i shared yesterday;
Done(ish): 1- We are likely to get a higher high today with the break of supply trendline. Not a strong break imo and some traders use trendline from the UTAD of distribution which is not broken yet.
Still need to close above: 2- 37,253 - the close of May and the point of control. 3- 37,770 - the 50 period MA (forgot this yesterday) 4- 41.346 - top of the trading range (42+ would be a breakout imo)
Remember i have exited at 40k, so i'm ok with getting back in at these levels. You should not trade with my advice and make your own decisions.
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