Large pennant pattern. I think this long downward trend has hit bottom for the following reasons:
- End of pennant has been reached and bounced out.
- We see a trend forming upward in between the blue lines.
- RSI has also finally broke the downward trend.
- MACD surpassed 0.
- Large volume picking up.
Any traders looking to buy should either wait until the price reached bottom blue trend line, or enter at the top blue trend line when it looks like the price is about to bounce out.
As long as we see BTC increasing, STRAT should reach the $7-$10 come August/September
- End of pennant has been reached and bounced out.
- We see a trend forming upward in between the blue lines.
- RSI has also finally broke the downward trend.
- MACD surpassed 0.
- Large volume picking up.
Any traders looking to buy should either wait until the price reached bottom blue trend line, or enter at the top blue trend line when it looks like the price is about to bounce out.
As long as we see BTC increasing, STRAT should reach the $7-$10 come August/September
Comment:
EDIT: The text should say higher highs, higher lows**
Comment:
It was rejected above the resistance line (top blue) and now moved down to support (bottom blue). Watching it to hold that support.