CRWV: price at local support zone

Price has reached a local support area where a potential higher low might start forming. I don’t yet have clarity on the larger-degree structure, but the market’s reaction to earnings on Monday should provide more evidence to work with.

Ideally, I’d like to see a move up toward the 145–157 zone, followed by a higher low to establish a new base. Alternatively, if price fails to hold above the 115–130 resistance area, we might be setting up for a move to re-test the September lows. In any case, I’m expecting at least a short-term bounce.

Chart:

https://www.tradingview.com/x/NcG7D4eL/