ETSY hit a low on 24 May @ 67 and attempted to test this low again on 16 Jun, at this low, it has retraced 78% of it's peak in Nov 2021 and nearly 88% fib retracement of it's AB swing.
It has been consolidating in a sideway range between 67-88 in the past 6 weeks and we are now seeing a possible bullish divergence with the RSI on it's monthly chart.
A close above this range at 95 could be a good sign. That said, the market could still be volatile in the weeks ahead until we have more clarity of a market bottom. Any dip buying at this time could still be risky.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Comment
⋅
Mini-Double bottom trend reversal worked like a charm here. :)