This is the potential bullish scenario. A pullback is expected as oscillators, sentiment, and structure analysis would require it to consider this a healthy uptrend. Using Fibonacci retracements potential pivot points are identified and circled - these are all potential points of reversal all depending on how in control the bulls are. However, taking a measured move off the ascending channel that has been forming it could potentially put price action right to the 0.618 regions if not past it a bit (maybe a wick).
However, there is also a bearish scenario at play! So beware! Use appropriate risk management and adapt on the go - these ideas can all change with a single pump or dump.
However, there is also a bearish scenario at play! So beware! Use appropriate risk management and adapt on the go - these ideas can all change with a single pump or dump.