An analysis based solely on price.
I have noticed with particular attention that in the last bullish impulse at the time of the break of the trendline there was an important retracement equal to -30% from the peak and then resumed the upward run by carrying out a new ATH.
If we pull the Fibonacci retracements it falls in the 38.2 and 61.8 range, I like it ;-).
Today it repeatedly hit the retracement around -30% from the peak in the 38.2 and 61.8 range. hitting a very important support around $ 40. (I left the Info line either way)
Since I think it is a very important retracement and the DOT situation is positive, I have opened a buy order by now substantial.
I have noticed with particular attention that in the last bullish impulse at the time of the break of the trendline there was an important retracement equal to -30% from the peak and then resumed the upward run by carrying out a new ATH.
If we pull the Fibonacci retracements it falls in the 38.2 and 61.8 range, I like it ;-).
Today it repeatedly hit the retracement around -30% from the peak in the 38.2 and 61.8 range. hitting a very important support around $ 40. (I left the Info line either way)
Since I think it is a very important retracement and the DOT situation is positive, I have opened a buy order by now substantial.
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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.