A distinct pattern that's taken shape since late 2015 is the resemblance of a step structure in the price consolidating for an extended period and then breaking through to the next level in a rather smooth transition.
What is to be expected is the measure of control that happens behind the moves to the next level of highs or lows. The reason for pointing this out is based on the observation that the price is currently situated near the previous highs with potential to breakthrough those levels.
The MACD is registering a favourable reading which will be optimal for the buyers in this respect but caution must be shown as the moving averages on the indicator are sitting lowly in positive territory and subsequently look set to turn downwards below the zero line.
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