m00n_m4n

m00n_m4n

A few weeks back I published a similar chart where we were just coming out of the (A) correction phase wave. Price action trended upward and hit the mean of the linear regression channel. Subsequently, price followed downward and broke through the 200ema, through the long withstanding 21W EMA, and tried to bounce off the 61.8 Fibonacci and ultimately bottomed hard...

m00n_m4n

- 5 Waves completed - ABC correction phase (A) bounce off 21 Week EMA - RSI most likely overextends further - See bounce to (B) at top-of-trend (LinReg) resistance