Possible cup and handle forming if resistance is met at previous top. Looks to be in an uptrend and hoping the current up move is a similar setup with the retrace after pump from May 2020. Price rose on decreasing volume since then and recovered quickly when the price recently dumped with a lot of volume. Hoping to see a little more movement up before retracing on decreasing volume before picking back up at entry.
Note
Now comes the retrace. Watching that 0.618 level for possible bounce in the coming weeksNote
So far rejection looks strong. At a support level so we will see if it manages to hold this and continue up or break and go down
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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.