My technical analysis show that the bottom could be in here very well. Seems like a weird bottom, I know, but sometimes traders have to accept a weird bottom. I analyzed a few cryptocurrencies and all of them show bottom action.
I think bulls are not done yet. Market may swing a bit or not but I am still bullish here. But I confess I am bullish biased here, as I didn't look properly on the bears perspective. I put together to timings for it to happen and adjusted the standard fibs so I get more strong signals.
I'm testing this new harmonic circles setup. Green circle is the expected zone where price will go if |USOIL| continue its run up. Red circle is where price is expected to go if |USOIL| retrace. Enjoy
Well, as you can see on the graph, the price is pretty much blocked in the area of the Fib Circle shown.
Until it breaks one of the circle areas, it might just bounce around the current Circle Area.
Also, resistance and support level agree with this Fib Circle :)
No Elliot Waves that I can clearly see on this one, so I'm not gonna add them.
My personal order(s) ...