After our March low, we've rallied +140% off the lows and formed a huge ascending triangle. Given our bullish momentum, it's likely we continue upwards into the green zones highlighted around the $40 and $47 marks.
RSI is not oversold and has been coiling, which shows signs of momentum heating up with plenty of room of run. If we break out from here, there is a high probability we fill the liquidity void above us in the $40-$50 range. Watching this one closely.
First target: ~$40 for a 20% gain
Second target: $48 for a 50% gain.
RSI is not oversold and has been coiling, which shows signs of momentum heating up with plenty of room of run. If we break out from here, there is a high probability we fill the liquidity void above us in the $40-$50 range. Watching this one closely.
First target: ~$40 for a 20% gain
Second target: $48 for a 50% gain.
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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.