Looking for a correction from the test of the ATH, there may be a diamond top forming on the lower time frames where we are now. I believe we are going to test support at ~$4.30 (orange) if we break that we will test $3 (red) again where we have stronger support. Breaking further from that will have us testing the ~$2.20 (blue triangle) range.
An optimistic view, if we do break out to a new ATH from here, then I will enter when confirmed and will expect to see a rise to the +$6.50 range.
An optimistic view, if we do break out to a new ATH from here, then I will enter when confirmed and will expect to see a rise to the +$6.50 range.
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Confirmed Bearish, Down we go. Now we just play the game of how cheap can we get it? :)
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A needle Bottom and then a test of the orange line. We have bounced on the orange where I have entered a long. Time will tell if this is our turn around, but the volume sure looks promising.
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This is a conservative entry, a small position in case we turn to go lower I will have capital to take advantage
Like it if you like it, and comment if you have a question. I'm happy to answer!
***This is a reflection of my own educated opinion and should not be viewed as financial advise, please use this for educational purposes only.***
***This is a reflection of my own educated opinion and should not be viewed as financial advise, please use this for educational purposes only.***
We have from a bullish perspective a falling wedge due to a slight squeeze that is happening as we stair step lower. The RSI on the 4h has cooled off to the 50's however the daily still remains in the 60's.
We have from a bearish perspective a Double Top and a Head and shoulders which is yet to complete, we will know more near the bottom of that wedge if we bounce we could be bullish otherwise onward to the orange line.