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Looking like its "overbought" on an even steeper channel here...

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22/11/17

15:41

Post #: 29026244
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Originally posted by Jako8557 ↑

yep spot on, that appears to be a (totally engineered) shakeout last week, well to me anyway,
and a pretty decent one at that (would have cost a bit to achieve as well, so I hope it was worth it).

And while a widespread upbar on high (or above average) volume should be treated as suspicious, with a multi bar shakeout in the immediate background, there is a strong chance it was full of buying, and not full of selling.

I expect there might be some consolidation around the 18.73 level, before too much more happens now, and if that works out OK, then 20.08 comes into play.

cheers

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Looking like its "overbought" on an even steeper channel here I've marked in blue, not that it can't keep going, look at Bitcoin, it can keep going while its supported, until it's not, not a personal opinion, just the label of the move above the supply line of the channel, cheers
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