Consolidation is forming, although we do see a bit of a volume spike. The only other situation I possibly see occurring right now is that we see a small pullback test of support, then a shoot up to a new trend high, forming a lower high on the 4-hr RSI.
Likely, I see prices bouncing around the upper $11k level for the next few days at least.
If the price action maintains, we will see the highest close on the weekly chart which is another good sign. This will likely push bulls back into overbought territory again on the weekly.
Volume-wise, we're not far from last week's bull volume and it's only Wednesday. This will lead to increasing bull volume.
Hope you're all having a great week!
