Potential Wolfe wave in play here. Target is yellow box by the time of the orange line.
Technicals:
Volume signature on a lower TF:
This is not financial advise, and always DYOR.
Technicals:
- Pattern formation matches schematic.
- Bullish divergence on RSI, indicating the bearish move may be slowing down.
- BBWP at lows.
- Significant engulfing on decent volume, especially for the weekend. Yellow capitulation signal indicates it may have been a bear trap below the uptrending channel.
Volume signature on a lower TF:
This is not financial advise, and always DYOR.
Note
Noticeable rejection on $63.5k resistance. Continue with caution.
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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.
Related publications
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.