Currently testing the previous horizontal resistance line of the monthly ascending triangle, now as a support line, which I posted about earlier this year. Opening a long position here.hidden bullish divergence also printing on the monthly. However the RSI is more useful on lower timeframes.
Comment:
Although the price has fallen below the horizontal support line of the top of the triangle, the lower rising support line of the bottom of the triangle should still act as the price floor. I remain long and will buy this support around $18. This is a long term trade, so don’t expect to get rich quick.
