For those that use tea leaves, the chart to me now is far more positive in its outlook.
The descending triangle looks far more like and equilateral triangle that has a much greater chance of breaking upwards. This is especially true as the MACD is now showing definite signs of life. The shorter term 7 and 30 day moving averages look ready to cross and any small break above the 200 dma, which is still trending upwards, would be very bullish.
The lack of selling/supply at these levels is also still a positive.We just need a few really big volume days to work through the stale/bored holders.The looming CR will of course always be a constraint on just how high any breakout may go to.
All my own thoughts on the technical analysis as we await direction from the fundamentals.
Milesy
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