I have noticed the nature of the chart from some previous data that is listed below:
1. The price action goes down in the range of 20 to 30%
2. The price action goes up in the range of 25 to 30%
3. The price action goes in the range of 50-80 days
Going to take a long position due to some reasons as listed below:
1. Trend is Bullish
2. Recently form an inverse head and shoulder which indicates it will go up
3. Divergence line in the RSI is in sync with the chart in the upward direction
4. Strong Green candles at the Higher Low
5. Retest strong 0.236 fib support level
6. Recently head and shoulder gives us a bottom which is a good support if we look back at the 2020 chart
1. The price action goes down in the range of 20 to 30%
2. The price action goes up in the range of 25 to 30%
3. The price action goes in the range of 50-80 days
Going to take a long position due to some reasons as listed below:
1. Trend is Bullish
2. Recently form an inverse head and shoulder which indicates it will go up
3. Divergence line in the RSI is in sync with the chart in the upward direction
4. Strong Green candles at the Higher Low
5. Retest strong 0.236 fib support level
6. Recently head and shoulder gives us a bottom which is a good support if we look back at the 2020 chart