Optimism is bouncing directly from the 0.618 Fibonacci retracement ($0.620), showing respect to the golden pocket region — but with Stoch RSI flipping into overbought, this bounce could be tested quickly.
📊 Fibonacci Zones:
– 0.5 = $0.668
– 0.618 = $0.620 (current reaction)
– 0.786 = $0.551 (last line of defense)
So far, the reaction is strong — but to confirm continuation, bulls will need to reclaim the $0.66–$0.68 range with volume.
A failure to hold may trigger a deeper move toward $0.55.
📊 Fibonacci Zones:
– 0.5 = $0.668
– 0.618 = $0.620 (current reaction)
– 0.786 = $0.551 (last line of defense)
So far, the reaction is strong — but to confirm continuation, bulls will need to reclaim the $0.66–$0.68 range with volume.
A failure to hold may trigger a deeper move toward $0.55.
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💬 Research & discussion: discord.gg/2systG9frc
Create strategies, explore thousands of TradingView ideas, & backtest at scale across symbols, timeframes, & parameters.
🌐 quanttradingpro.com
💬 Research & discussion: discord.gg/2systG9frc
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.