On the above 5 day chart price action has corrected over 95% since early 2021. A number of reasons now exist for a bullish outlook, they include:
1) Price action and RSI resistance breakouts.
2) Confirmation of support on past resistance as sellers capitulate with boredom.
3) Resistance not until $6 to $8 area.
Is it possible price action continues to correct? Sure, sellers love losses.
Is it probable? No.
Ww
Type: trade
Risk: You decide.
Timeframe for long: January 2025
Return: 500%
Stop loss: Elsewhere
1) Price action and RSI resistance breakouts.
2) Confirmation of support on past resistance as sellers capitulate with boredom.
3) Resistance not until $6 to $8 area.
Is it possible price action continues to correct? Sure, sellers love losses.
Is it probable? No.
Ww
Type: trade
Risk: You decide.
Timeframe for long: January 2025
Return: 500%
Stop loss: Elsewhere
Trade active
trade active on publication