Pretty simple TA. We're in a rising wedge in purple to the far right, topline in light blue is touches the bodies on the 4h,, the purple line on top is the price action in its entirety. My represent forcast is for this to break down in 2-10 hours, filling up the wedge we're in right now. If the spill is particularly violent, as its been recently we may sub 60. My if it takes route 2 I expect to double bottom at 80.
The bigger picture. If I were just looking at this I'd think the bottom was in, but the 1h and 4h convince me otherwise.
Trade closed: stop reached:
Well, this is why we use stops. The long long wicks on the weekly (posted above) seem to be controlling. We've had a really, really good pump on the daily, up 11+%. We have a near flat bottom Heikin Ashi candle open which might develop into a recovery the likes of which mirror the great bull run of '17, or fizzle out. Use stops.