Price action Support and Resistance Speedlines are highly effective when draw correctly. You can see from the chart how the price keep obeying the speedline, and how candlestick reversal bouncing from a line gives a reliable signal, and how candlestick momentum increase before line break give a signal that the line breakout might happen. Add to the setup Fibonacci tool and you have a higher probability tool in your profit arsenal.
Commento:
If you would project the speedline to the earlier higher price hesitation candlestick high, you will see that the price is now trading at that projected speedline.
Commento:
Bulls took off like a wildfire. I anticipate a 75k and then possible move to 80k. Bullish trend is steep, and from experience traders knows that the bulls might not be able to keep up the pace.