Greetings,
Price has been in a downtrend since May 2021, but nevertheless there have been 2 times a bounce from local lows of 100%, the last time in March from a price around $5. After that, a test of the past support zone, around $10, which has now become a resistance zone.
Possible entry points to go long: On a breakdown of the downtrend, or look for an entry point on a retest of support around $5 and the formation of a double bottom.
Daily chart.
A rise and a correction that could be a flag band.
The targets when this pattern is worked out will be the length of the flagpole.
If you liked this material, in that case, please like it and subscribe so you don't miss anything.
Always use STOP, and do not use a leverage higher than x3.
A trader must always have tomorrow.
Price has been in a downtrend since May 2021, but nevertheless there have been 2 times a bounce from local lows of 100%, the last time in March from a price around $5. After that, a test of the past support zone, around $10, which has now become a resistance zone.
Possible entry points to go long: On a breakdown of the downtrend, or look for an entry point on a retest of support around $5 and the formation of a double bottom.
Daily chart.
A rise and a correction that could be a flag band.
The targets when this pattern is worked out will be the length of the flagpole.
If you liked this material, in that case, please like it and subscribe so you don't miss anything.
Always use STOP, and do not use a leverage higher than x3.
A trader must always have tomorrow.
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