The breakout from Andrews' pitchfork H1 chart suggested that the recent correction, which took form of an A-B-C pattern, has likely been completed: If we look at the bigger picture, we can see a strong uptrend (main trend) that is set to continue higher above $412. The correction from $412 to $265 is labeled as Wave (4), and there is a clear Reverse Divergence pattern rsi, which supports this view.
In worst case scenario, price might go back to $240, but this would be interpreted as a buying opportunity within the uptrend.
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.