◘ Today's Break out Bulls trapped Bears going short after yesterday's inside Bear bar
◘ Today closed near it's high with a minor bounce from the 10ema
◘ Bulls are forming higher high's and beginning to trap Bears above the 20ema
◘ So far August has been quite Bullish with some trading range price action at the beginning
◘ The Bull break outs are high above the 20ema
◘ The market is up 82.37% from the June 18th Low of 0.04912 to the High of Today
◘ Today broke above the bottom of the Weekly bear support (Red Dash Line)
◘ There may be a strong resistance at the Weekly chart 20ema is currently at 0.09036
◘ Today also broke above the top of the Bull channel which may be exhaustive
◘ Bulls may take partial profits looking for a flag sideways before continuing up
◘ August high is above the June high. Bulls erase the Bears attempt to bottom out the market
Do Bulls take partial profits or continue to rally?
Are Bears willing to sell for a swing knowing there are traps?
Will the market flag sideways at the Weekly 20ema resistance?
What are your thoughts?
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by Digital Currency World News, dcworldnews.com