Interesting development today with some big buys. Some big boys...

Interesting development today with some big buys. Some big boys are either having a big punt, or they got wind of something.

• Recent structure of mini descending triangle formed while consolidating - These can break upwards or downwards
• The decision point here looks to have broken upwards. However, ideally you'd want the break upwards on more significant volume. Price rise on higher volume = demand is outstripping supply with more strength. i.e. causes prices to run harder.
• Price has bounced off the EMA 21 - Acting as support
• SMA 9 has remained above the EMA 21 = No confirmation of short term downward trend. What we want to see is the SMA 9 stay above the EMA 21 and both clearly pointing upwards = short term upward trend
• We also want to see continued shrinking red bars on the MACD histogram = would indicate negative momentum is turning. If it keeps contracting, we're likely to see the MACD line cross over as well, which is generally a buy signal.

Next couple of sessions will be interesting. Hopefully the indicators continue to show a turn in sentiment and the patient holders are rewarded.

*Multiple Rocket Emoji's*

GLTAH & DYOR