Hi,
Lets see if this level gives a bullish candle on the 12 HRLY, if so, we are likely to have an upward bounce but fall short as the consolidation to pass the all time high of $20 would be too quick.
We need some lower levels still to be tested and I think the channel, or blue trend line will be the likely support as it has many confluences with support and fib levels, as mentioned in my previous post as to why I see this level most likely to hold.
As per chart, I have 2 bullish scenarios.
a) ABCDE Corrective Wave or
b) Gartley harmonic (at this point).
Note the fib levels, support channel or having confluence with the trend and support\resistance levels.
Also note the RSI has a little bit more to go to be over extended to the bottom level, hence the bounce for the harmonic B point.
Cheers,
S.SAri
DAILY
Lets see if this level gives a bullish candle on the 12 HRLY, if so, we are likely to have an upward bounce but fall short as the consolidation to pass the all time high of $20 would be too quick.
We need some lower levels still to be tested and I think the channel, or blue trend line will be the likely support as it has many confluences with support and fib levels, as mentioned in my previous post as to why I see this level most likely to hold.
As per chart, I have 2 bullish scenarios.
a) ABCDE Corrective Wave or
b) Gartley harmonic (at this point).
Note the fib levels, support channel or having confluence with the trend and support\resistance levels.
Also note the RSI has a little bit more to go to be over extended to the bottom level, hence the bounce for the harmonic B point.
Cheers,
S.SAri
DAILY
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
