It could go up or down...
Lol.
But, yes, seriously, here is what to watch for to understand direction.
Price has held well above $94,500 for days now and overall looks very strong.
Close weekly here, I think we see a push higher into $100,000.
Get above $100,000 and hold and we invalidate any lower scenario.
Lose $94,500 with daily close and we start taking out lower regions.
My bias is on higher however, for following reasons:
- This has been a strong move with great rising volume
- Spot buying has been the main driver
- OBV is signalling strength
- Strong ETF inflows last week
- DSS Bresser,