If I was to make an optimistic bullish prediction, it would be that we have a rounded bottom here tapping the uptrend, then move to retest the downtrend line at 10.3. Enough momentum and we can potentially break this long term bear trend.
The reason I'm expecting a more rounded bottom is due to the weak upward momentum at this price level. We could easily see a break of the uptrend line and test our previous bottom.
Key points:
-We look weak at this level
-Follow the volume
-Breaking past 9.3 over the next couple weeks is crucial
-Bullish momentum is powered by hopium. Bulls will want to squeeze as many shorts as they can to help their cause.
The reason I'm expecting a more rounded bottom is due to the weak upward momentum at this price level. We could easily see a break of the uptrend line and test our previous bottom.
Key points:
-We look weak at this level
-Follow the volume
-Breaking past 9.3 over the next couple weeks is crucial
-Bullish momentum is powered by hopium. Bulls will want to squeeze as many shorts as they can to help their cause.