We have lift off, but price has not cleared the tower. A high volume thrust has blasted price beyond the “B” of the A-B-C correction. The correction completed at the completion of the cycle from the January high to the March low.
Chart courtesy of Stockcharts.com
Price had settled between the 1×1 angle off the March low and the 1×2 angle off the November low. It is possible the gravity forces created by the lows had created a Lagrangian L4 Point which made launch much easier.
Maybe I’m getting carried away because I’m listening to Neil deGrasse Tyson’s audio book Death By Black Hole and Other Cosmic Quandaries.
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