First off I want to mention how much this chart resembled the GFC after it crashed. There was a hopeful rebounce and then another rejection. There also seems to be a double top forming which signals a reversal and the MACD signals strength is slowly diminishing. There could be a possibility of even a triple top before reversing, but I am doubtful it will break...
A possible short term burst reaching the horizontal support line as a retest but would fall back as a further retest. I do not believe it'll hit the channel line on that rising channel. Right now we can see that it is also forming a steep wedge that signals a temporary break to the downward trend which is also supported by the falling volume that signals it isn't...
In the weekly chart we can see that the highs in the chart is testing previous resistance points as indicated by the green arrows. However with only one retest as indicated by the little yellow arrow on the right and then it was rejected I would recommend further retests before we can confirm a breakthrough. The volume is also declining and we have potential for...
So the red line is the price point we are continually retesting and rejecting as you can see it's been rejected three times
at the moment i do see an upwards channel happening like it did prior between start of 2019 and Jul however the volume does not reflect the previous bull run, instead, it seems to be dropping and the rise is much more steep than a healthy...
