A perfect bounce off the trendline which happened to coincide with the 21 week EMA. Blue skies from here.
Intersection of pitchfork median line and fib levels, as happened end of April
- Aside from potential 1-day long squeeze wicks, price should stay above the current 2020 ATH - Pitchfork altered to Schiff. Fits better to estimate the lower boundaries for price.
Unlikely to make a lower low.
With a 50% correction, last analysis proved wrong. New lines, new hope. Next target $0.0403. As late as 20th July, hopefully sooner.
Fractal is playing out as expected. As Mickey says "Get up you Bum!"
Interim targets - $0.0297 $0.0454 $0.0609 $0.0913
Radagast lent me some of his mushrooms. They revealed new confluence to me.
Pitchfork drawn by trial and error, not based on fixed points, to match the most number of hits and bounces. When HG exchange goes live, the volume should dwarf previous volumes. I like dwarves. Volume has a general correlation with price. $0.0484 (my 0.618 fib) could get hit as early as June.
1) ZIL has retraced to the 0.202 2) Last time this happened, that was as low as we went 3) Onwards, upwards to the 0.786 4) That's around $0.0609 circa mid-July
This will determine if the pain is done or not.
Over the next 2 days, we need to bounce off the bigger pitchfork or hope is lost.
2nd pitchfork redrawn for another chance.
If we can close above the first pitchfork, we can truly leave it behind and find the median line of the new one