Cosmos turned bullish on its 1D technical outlook (RSI = 60.498, MACD = 0.008, ADX = 27.015), which raised 1W to a neutral state. This is perfectly aligned with the market structure at the moment, which is a technical rebound at the bottom of the 3 year Channel Down. The 1W RSI is on a HL trendline, which is a bullish divergence as far as the Channel's LL are concerned. This means that there is potential to break this Channel to the upside, but until this happens, we will be targeting the 0.786 Fibonacci retracement level (TP = 9.500), like the previous bullish wave did.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.