The 8 Hour intracloud path has had a really high number of interactions in the last couple of days. This has proven to be an extremely pivotal path, price was only able to cross when path decline lowered the resistance level in to orderbook liquidity, and price kind of "squeezed" through.
The Real-Time Low (8h) also "happened" to be at exactly the same level as the predictive intracloud path. This is probably the only reason price was able to push through, if price had to encounter both resistance levels individually, it would have been difficulty squared. This trick shot has afforded price the oppertunity to explore a very bullish channel, with a twist on the daily cloud, strong support on the 4H, and the 8H cloud top resistance level will have declined due to cloud shape and time.
I'm long! I'm in Alts! I'm ready to close all positions at a moments notice if we close a SINGLE 1h candle back underneath that intracloud path!
This chart is 1Hour candles with the 8Hour cloud. Looking at the candle structure, it seems to just blow past the predictive intracloud path.... Have a look below, but then see the 5min chart underneath -
This is the 5minute chart for 8/22 - 16:00 UTC, zoomed in on the area where the the above chart had the same timestamp noted. The Above chart was a 1Hour, and the candle structure, open / close levels, wick interactions did not give any indication that the price was respecting that path at all. Now, looking at the shorter TF candles, it's clear that the price dropped straight through without a fight on the support side, and then immediately tested as resistance before continuing down!