And the Ranged Bound Accumulation Continues!!
Is this the beginning of #SMOKE Whale season?? Looks like steady accumulation has finally burst to the upside with some big green candle volume action starting to take shape! Could this be the bottom, or just the eye of the storm???😱??? It's sure nice to see buyers stepping in for a change, & sellers exhausted! Hopefully price spiking will cause "moar" "FOMO"!😱
Recent downtrend broken??
This concludes our recent downtrend! It has been violated to the upside!
Old Resistance becomes New Support!!
It is not a big surprise where we ran into trouble. This area had acted as previous support, and is just below the last area we bounced down off the resistant trendline.
Books are stacked with buys, not sells!
Order books are heavily stacked on the buy side, so what's my takeaway here? I think we see a push up and feel out the new resistance, and then bounce right back down to our new support. Until we see a little bit more follow through I won't know for sure if this was caused by a single event today or a larger short squeeze trend. As long as the new support keeps supporting we should keep going up, Up in SMOKE that is!
Price Update 09/08/19
Yes, it is still going!