Hello, we are currently in the green accumulation zone, which is highlighted as a green rectangle.
We want to see a push up, to meet the resistance, and then come back down, and retest the old resistance as support. In other words, convert that red line to a blue support line. Once we see this, we will see it fly to $3.4 which is approximately the line for the 1.618 Fib level.
At this price, we will have to analyze once again and see what happens.
This is a short term - 1 month setup.
Idea fails if price falls below $2.5
We want to see a push up, to meet the resistance, and then come back down, and retest the old resistance as support. In other words, convert that red line to a blue support line. Once we see this, we will see it fly to $3.4 which is approximately the line for the 1.618 Fib level.
At this price, we will have to analyze once again and see what happens.
This is a short term - 1 month setup.
Idea fails if price falls below $2.5