Assuming this is the bottom point of wave 3, due to horizontal and diagonal resistance levels, as well as macd moving upward while price continuing down, indicating a potential change, as well as RSI in severely oversold. On wave 4 looking to have an extended wave ABCDE pattern, due to wave 2 ABC correction toward the 50-618 fib of the previous wave down, as well as the daily diagonal trend and horizontal. At which point is should continue for its fifth wave down. Prior to trading watch how price reacts to the resistance/ support levels.
Comments
Trader_Dale
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Based on Market Profile (volumes) and Price Action there is very strong swing support at 0.7246. There was about 2 week rotation where the big players accumulated their long trades and then moved the price agressively higher. You Can see this strong trading activity even on yearly volume profile!
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis:
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis: