Analyzing this chart from the perspective of a micro scale, there are two possible outcomes in the next couple of hours.
Scenario A
We could breakout to the downside, smashing through support, before we break through resistance at 0.0042, because of the three drives pattern in play. our CM_Ult_MacD is showing a bullish divergence, the RSI looks like it's bounced off from support at 41.78.
Scenario B
From a Macro scale, We don't go to the downside, because we're currently sitting on support, We could (This is the bullish sentiment) follow the ascending channel that's in play, eventually reaching sub 0.0070 target. That's 76.33% growth. Stop Loss at 0.003
Scenario A
We could breakout to the downside, smashing through support, before we break through resistance at 0.0042, because of the three drives pattern in play. our CM_Ult_MacD is showing a bullish divergence, the RSI looks like it's bounced off from support at 41.78.
Scenario B
From a Macro scale, We don't go to the downside, because we're currently sitting on support, We could (This is the bullish sentiment) follow the ascending channel that's in play, eventually reaching sub 0.0070 target. That's 76.33% growth. Stop Loss at 0.003
Comment:
I meant stop loss at 0.0037. Seems like we did break the support, and following the idea of the bullish 3 drives pattern, we could reach 0.005, and consolidate, before hitting my ultimate target of sub 0.007. we'll see