Potential Wolfe wave in play here. Target is yellow box by the time of the orange line.
Technicals:
Volume signature on a lower TF:
This is not financial advise, and always DYOR.
Technicals:
- Pattern formation matches schematic.
- Bullish divergence on RSI, indicating the bearish move may be slowing down.
- BBWP at lows.
- Significant engulfing on decent volume, especially for the weekend. Yellow capitulation signal indicates it may have been a bear trap below the uptrending channel.
Volume signature on a lower TF:
This is not financial advise, and always DYOR.
Comment:
Noticeable rejection on $63.5k resistance. Continue with caution.
