Bulls keep control and eye 75.20 – Crypto News – Crypto News
Connect with us
Bulls eye $100.00 on breaking 50/200 DMAs Bulls eye $100.00 on breaking 50/200 DMAs

others

Bulls keep control and eye 75.20 – Crypto News

Published

2 years ago

on

Share:

  • WTI bulls eye a continuation from support structure.
  • Bulls remain in control on the front side of the bullish trend.

As per the prior analysis, WTI Price Analysis: Bulls are engaged, eyes on upside breakwhere a bullish bias was mapped out on the charts, the following illustrates the bullish developments according to the analysis:

WTI prior analysis

We had a major double bottom on the longer-term outlook.

Zooming in, we see that the market had broken out of the bearish trend and is now riding a dynamic support line.

We had a W-formation neckline area that was being respected as well.

The Fibonacci The retracement tool measured across the bullish impulse saw the 78.6% Fibo meeting the support line and lows of the correction.

WTI Updates

The daily charts shows the price popping higher into test resistance. The 4-hour chart, below, shows that there could be support at this juncture and move higher:

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending