Trend reversion off of slow downtrending accumulation spring up
Updated
Trend
Price looks like it has been accumulating slowly from the trend going down.
It could still be accumulating for longer because we just had a nice rejection to the downside.
Trade opportunities
I have marked a trade example with an entry that is very early, from the break of the steepest trendline on the hourly chart.
Before entering long, I would like to see a clear sign that buyers are taking back control.
Higher timeframe
We are also at the point where price last had a big run up:
Lower timeframe
Here is a better view at the shorter term trendline that could break to the upside and start the next bull run:
Price looks like it has been accumulating slowly from the trend going down.
It could still be accumulating for longer because we just had a nice rejection to the downside.
Trade opportunities
I have marked a trade example with an entry that is very early, from the break of the steepest trendline on the hourly chart.
Before entering long, I would like to see a clear sign that buyers are taking back control.
Higher timeframe
We are also at the point where price last had a big run up:
Lower timeframe
Here is a better view at the shorter term trendline that could break to the upside and start the next bull run:
Order cancelled
We haven't seen a break above the last high and I haven't seen buying pressure yet, so trade not taken.
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