/biz/ - Business & Finance

2. This is one rather self explanatory, because the wicks had formed above the WEEKLY 2.2 on 20th MAY 2019, it was apparent that there would be an actual 'candle close' test shortly afterwards on the WEEKLY, which did happen from 19-24th JUNE 2019. I'd like you to note however, what caused the initial sell off right under the 2 on the DAILY CHART. It originated from the 15MINUTE CHART, once price had reached that high wick test on the WEEKLY chart, it was up to the shorter term distributions (15m/1h/4h) to keep the distribution in that high range, price would had to have been kept above 16500 ish (according to the WEEKLY 2.2) for it to sustain the bull trend consecutively (without the small pullback it experienced), it failed to do so on the 4H chart with conviction and OF COURSE, WHEN PRICE IS UNCERTAIN, prices revert to the MEAN. Which is exactly what they did, price reverted to the DAILY and 4HOURLY MEAN and held convincingly! Great news, it means that this was a temporary pullback, and a test of the upper 2.2 WEEKLY can happen again without any 'weak hands'. This is exactly what happened and after breaching the DAILY UPPER 2.2 with a few wicks (circled) and holding ground above the DAILY 1.25, it was likely that this time the WEEKLY 2.2 would surely be broken.