We're coming back to the strong resistance.
This time is a bit different. Fib 0.62 retracement ha salready been reached on the way down from the uptrend and now we're trying to break around 0.3 for a dollar.
The difference is the volume who has been rising in the last few days, despite the downtrend.
It's better to stay and see daily candle...
Hi, Current move looks exactly like the one we had 2 months ago. The difference is, it touched 0.6 fibonacci now, and 2 months back it hit 0.78. That means there are two possibilities:
1. It will either slide a bit down in the coming 1-2 weeks time frame and then it will start growing again
2. It will start uptrend very soon, reacting to yesterday's slide
Trend behaves in identical way as a month ago, it retraced to 0.6 fibonacci and now it's slowly coming back. If history repeats, it will consolidate for the time being and in around 1-2 weeks it should gradually start the uptrend. We will form 3rd bullish wave to around 130$.
This should happen with normal technical analysis, however, any information about ETF...