Price is accumulating between 1.1 and 1.7 for a while. In 3D timeframe we can see clear wedge pattern and also RSI is close to the support on uptrend line.
So all in all:
- Any daily close between $1.8- $1.9 will confirm that another strong bull run is around the corner
- There can be one last downward leg to $1.4 level before we see green candles on 3D timeframe. You can tell this with checking how price reacts when it touches to the upper - lower trend line inside the wedge.
When the price breaks $1.8-$1.9 zone, there is no reason to not hit $5 in a very short term.
So all in all:
- Any daily close between $1.8- $1.9 will confirm that another strong bull run is around the corner
- There can be one last downward leg to $1.4 level before we see green candles on 3D timeframe. You can tell this with checking how price reacts when it touches to the upper - lower trend line inside the wedge.
When the price breaks $1.8-$1.9 zone, there is no reason to not hit $5 in a very short term.
Kommentera:
As expected price hit $1.8, weekly close around/above this price will enable another strong bull run