As can be seen in the chart below, the upward waves have been getting steeper while the downward waves have been getting shallower. This means the bears are losing momentum and the bulls are gaining momentum. There are also bullish divergences in the RSI. These signals combined mean it is extremely likely that we see an uptrend for 1-2 days at least to 48k and beyond.
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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.