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That was a wild ride.
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Looking good. Testing the downward channel now. If it manages to break and continue up tomorrow, price should attempt to retest the multi-year downtrend resistance around .015.
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This is getting interesting
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So we broke the multi-year downtrend line with *some* volume but now its at the top of a huge pennant formed from the advance and accumulation earlier this year. If this somehow keeps going up and break the flag with volume, this ain't stopping for a while.
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I find it more likely we get a throwback to the red trend line to test support and let the market cool off before starting back up, but really ... who knows. Enjoy the ride if your long and if your short ... good luck.
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I'm going to go out on a limb here and call this bullish consolidation. Between the multi-month pennant line and the multi-year downtrend line. Importantly, it's consolidating above the multi-year line.
