It seems that at the end of the downward trend of the daily time frame, due to the positive divergence of the RSI, the probability of completing a downward wedge pattern is high. If the current rising trend is above the $0.81 range, we can expect the completion of the pattern and the formation of a rising trend, provided that the $0.378 area is maintained.
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The $0.806 range was not fully consumed, but a bearish trend was formed according to the analysis. As long as the $0.378 range is maintained, we have a bullish view.
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We reached the support range we specified. It should be seen whether the price chart will succeed in maintaining the previous low or not!
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According to the analysis, it reached the support range of $0.491. From this range, an increasing trend was formed up to the resistance zone specified for us. The current trend momentum is strong If the downward trend line is broken upwards and the $0.806 range is completely consumed, the possibility of the continuation of the upward trend is strengthened.
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The $0.806 range was completely consumed In my opinion, from here, according to the signals we have on the lower time frames, there is a high possibility of a correction up to the specified areas (that this correction process can be a pullback).
Of course, it should be kept in mind that the momentum of the upward trend is strong.
So far, you could profit step by step with our analysis, dear friends Follow our Telegram channel (@FiboTech_Trade) and earn more profits ;D
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There is not much left to reach the target range Stay with us and earn profit :D