In the 4-hour chart we can see a that a double bottom has been formed (inside a support area visible in higher time-frames).
There are three reasons that I think the entire breakout of this double bottom will play out.
The pattern is combined with bullish divergence in the RSI. The RSI has broken out from an ascending triangle The price has broken out from a short-term descending resistance line
So, the first target would be at the high between the two bottoms ($0.245) while the second one at the previous breakdown level ($0.27).
Commento
That definitely took longer than expected, but the first target is reached!
-RSI clearly above 50
-Possible ascending support line.
Expecting the price to get to the target within a week.
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