NOTE: See images at bottom.
$POTS seems to be forming a bottom.
There was a false break out of a falling wedge in October, with a successful breakout closer to the apex.
There was a swing failure at the October low.
Price action is between the (well respected) 20EMA and that October monthly low.
MACD is crossing up the signal line.
RSI has a positive divergence.
MACD on the hourly (4hr) is also making a bullish cross up and is above the signal line.
On the hourly (4hr) timeframe the 0.786 Fib is acting as a strong level of resistance and seems to be the break line for an Ih&s pattern.
If the Ih&s breaks out, TP1 is at the 0.618 Fib level, which would either make for a swing failure at the diagonal resistance falling from the local high, or flip the diagonal to support and ride it down to test the 0.786 Fib level for support.
If it can find support at the 0.618 Fib, TP at the local high ($4.70) and then the monthly level at $5.70.
SL somewhere below the marked swing failure.
Little green dot was my entry after support was found on the Monthly.
NFA. If you follow my trades you will lose money just like me.
$POTS seems to be forming a bottom.
There was a false break out of a falling wedge in October, with a successful breakout closer to the apex.
There was a swing failure at the October low.
Price action is between the (well respected) 20EMA and that October monthly low.
MACD is crossing up the signal line.
RSI has a positive divergence.
MACD on the hourly (4hr) is also making a bullish cross up and is above the signal line.
On the hourly (4hr) timeframe the 0.786 Fib is acting as a strong level of resistance and seems to be the break line for an Ih&s pattern.
If the Ih&s breaks out, TP1 is at the 0.618 Fib level, which would either make for a swing failure at the diagonal resistance falling from the local high, or flip the diagonal to support and ride it down to test the 0.786 Fib level for support.
If it can find support at the 0.618 Fib, TP at the local high ($4.70) and then the monthly level at $5.70.
SL somewhere below the marked swing failure.
Little green dot was my entry after support was found on the Monthly.
NFA. If you follow my trades you will lose money just like me.