Did we really break out of the longterm downward channel?
I don't think so.
If you use the parallel channel tool of Tradingview and first you paint the lower line with about 6 connection points and then move up to the highest point in 2019 then you see that today we touched the upper channel a second time.
Furthermore we are at the end of the upward channel starting Mid December 2019.
Today it looks like that we will print a nice shooting star (bearish candlestick pattern) on the 3-D chart and on the Daily as well.
RSI ist on the top.
And on the 4H chart you see a nice bearish divergence in the RSI.
So many people and analysts are bullish at the moment - I hope they really can enjoy their beer and do not have to fear the bear...
no financial advice - only my personal view - and sure: I could be totally wrong - just an assumption
I don't think so.
If you use the parallel channel tool of Tradingview and first you paint the lower line with about 6 connection points and then move up to the highest point in 2019 then you see that today we touched the upper channel a second time.
Furthermore we are at the end of the upward channel starting Mid December 2019.
Today it looks like that we will print a nice shooting star (bearish candlestick pattern) on the 3-D chart and on the Daily as well.
RSI ist on the top.
And on the 4H chart you see a nice bearish divergence in the RSI.
So many people and analysts are bullish at the moment - I hope they really can enjoy their beer and do not have to fear the bear...
no financial advice - only my personal view - and sure: I could be totally wrong - just an assumption