SCBTC is now at the bottom of the neckline. The price action is touches 3 times at the resistance trendline.. Resistance trendline is confirmed. Its time for the breakout .. If it Successfully break this resistance trendline, then we see a bullish rally towards all time high.. Technically, MACD crossover found , which is a bullish signal.
RSI Oversold zone with divergence, which is another bullish sign.
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Price is follow our trendline support..
We can see breakout in next move.. Let's See What Happend..
Along with MACD, there is Bullish divergence on the momentum indicator too with the price forming lower low but the momentum forming higher low.
Trend is expected to reverse soon, from downtrend to uptrend. This may be a good time to start accumulating.
Trend is expected to reverse soon, from downtrend to uptrend. This may be a good time to start accumulating.
I posted it in my analysis here: