The Technical Confluence Indicator shows that the break above $6,579 was very significant. This is the congestion of the Simple Moving Average 5-4h, the Fibonacci 23.6% one-day, the SMA 10-1h, the Bolinger Band 1h-Middle, the SMA 50-15m, the SMA 100-15m, the Fibonacci 38.2% one-month, the Fibonacci 38.2% one-day, and the Bolinger Band one-hour Middle. This level now switches into strong support.
The road up ahead is much clearer. The next substantial convergence of technical levels is at $7,034 which is where the Fibonacci 61.8% one-month and the Pivot Point one-week Resistance 3 meet.
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