Here we have another example where the dynamics between sellers (bears) and buyers (bulls) have shifted. The first indication of this change occurred in May 2023, where bears failed to establish a lower bottom. Instead, bulls broke through the previous lower high and pushed the price up to $20 in June 2023. In September-October, the price formed a higher low, and by the end of December, it became evident that the dynamics between bears and bulls had changed. This was further emphasized when the price broke through the previous higher high and formed a skewed inverse head and shoulders formation. Although the formation may be somewhat unclear, the most significant aspect here is that bears have lost control, and bulls are clearly dominant.
Currently, I am awaiting a pullback towards the 200-day exponential moving average (EMA) before considering a long position.
Where do you think the direction is heading for PATH?
Currently, I am awaiting a pullback towards the 200-day exponential moving average (EMA) before considering a long position.
Where do you think the direction is heading for PATH?