Quick idea. There is a double bottom, and we are retesting the neckline now.
This seems to be a very strong support with the support from:
1. Neckline
2. bottom of megaphone
3. 0.25 pitch fan level
4. Accumulation area
Based on the double bottom my price target is around $67k but also marked in the chart some more price targets as a green rectangle.
One last thing is the RSI is in a support zone on the 4h and it is oversold in CCI indicating it is not very likely that the price will continue down.
Overall:
You may want to wait a little longer to see if we hold above $55k, but a long here is fairly safe and watch to take profits around $65k+.
The best way to support me and get me to release more ideas is to follow, comment, and like. Thank you.
This seems to be a very strong support with the support from:
1. Neckline
2. bottom of megaphone
3. 0.25 pitch fan level
4. Accumulation area
Based on the double bottom my price target is around $67k but also marked in the chart some more price targets as a green rectangle.
One last thing is the RSI is in a support zone on the 4h and it is oversold in CCI indicating it is not very likely that the price will continue down.
Overall:
You may want to wait a little longer to see if we hold above $55k, but a long here is fairly safe and watch to take profits around $65k+.
The best way to support me and get me to release more ideas is to follow, comment, and like. Thank you.
Commento:
bullish divergence?
Commento:
hope its not a false breakout, but seems like the bullish divergence was true.