A friend of mine who has been invested in this for some time has asked me to have a look at this for him. This looks like it is developing a double bottom reversal pattern here. At the dotted line we have what I believe is a neckline forming that will be a future breakout for this pattern. The long term primary trend is possibly in the process of being broken also. The price action has just crossed over the 50 week MA which gives an indication that we have some positive momentum developing and what I expect to see on going is the price come down and touch that 20 week MA and us it as a lower resistance level. Though likely the price will push as far as 0.030 again. I would be watching for that 200 day moving average to be crossed by the price action. If the lower bound level of 0.030 breaks once the 200 day MA gets closer then this is just going to get smashed lower and lower until it finally hits the bottom. Who knows where that is.
I don't like telling people exactly what to do with their money on trades, but in the short term, you could sell now while the price is at a minor high and hope to buy back in again closer to 0.030 once the price crosses the 200 day MA, or wait through it and sell if 0.030 is breached.
I don't like telling people exactly what to do with their money on trades, but in the short term, you could sell now while the price is at a minor high and hope to buy back in again closer to 0.030 once the price crosses the 200 day MA, or wait through it and sell if 0.030 is breached.