Retrace then Bullish
Synopsis
Price is going to retrace back to the trendline. From there it will bounce up starting a bullish movement.
Daily
Rejection candlestick formed in line with 618 level.
RSI
4hr
Price has broken out of descending trendline. Currently sitting at 1.272 extension level. Rejection candle stick formed. Expect price to retrace to 618 level. Which coincides with structure.
1hr
Showing signs of trendline rejection in RSI. Numerous bearish candlesticks.
Price is going to retrace back to the trendline. From there it will bounce up starting a bullish movement.
Daily
Rejection candlestick formed in line with 618 level.
RSI
4hr
Price has broken out of descending trendline. Currently sitting at 1.272 extension level. Rejection candle stick formed. Expect price to retrace to 618 level. Which coincides with structure.
1hr
Showing signs of trendline rejection in RSI. Numerous bearish candlesticks.
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