The price, while in an uptrend, has reached the support level at the bottom of the ascending channel. In terms of price action, I do not anticipate any further significant correction beyond this point. From a temporal perspective, I am considering the period from April 25 to May 25—a one-month span—as the timeframe for the bottom formation. Conditions within this defined area and timeframe appear to be conducive to a solid upward rally.
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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.