Making the case for a bottom being complete at this level. There will be a retest of the bottom but my thesis is that it should hold above $8.37.
There are a few items for my thesis. One, there is a Bullish Divergence on the weekly time frame. Two, Accumulation/Distribution is still holding well, even with the large RED Volume…price did not move too much. Three, looks like the 7th wave has completed, which I normally use as when searching for bottom formations.
There are a few items for my thesis. One, there is a Bullish Divergence on the weekly time frame. Two, Accumulation/Distribution is still holding well, even with the large RED Volume…price did not move too much. Three, looks like the 7th wave has completed, which I normally use as when searching for bottom formations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.