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On the above 8-day chart price action has corrected 95% since the sell signal back in February 2021. A number of reasons now exist to be long, including:

1) You know why..

2) Price action and RSI resistance breakouts.

3) Strong bullish divergence between price action and the oscillators. Eight of them as measured over a 160 day period.

4) A double bottom on past support, excellent.

Is it possible price action continues to correct? Sure.
Is it probable? No

Ww

Type: Trade
Risk: 6%
Timeframe: A week or so, don’t wait for lower lows.
Return: Couldn’t say

Trade ist aktiv:

support confirmed

Kommentar:

excellent moment

Trade ist aktiv

Trade ist aktiv:

Resistance has failed. That's a good thing.

Kommentar:

Past resistance confirmed as support.

Trade ist aktiv:

Alt-season begins...