Based on Market Cipher B on the weekly and the fact that we tapped the golden pocket down here and we held this bottom trendline, it appears to me that we have found bottom. Both the VWOP and the RSI on Market Cipher have started hooking upwards with this new weekly candle and things are starting to look up again. Our last confirmation will be the coveted green dot, however I wouldn't wait for it to put a long in or you'll probably miss a lot of the move. I have limit orders set all the way down into the 3600s to back up my long position in case we do happen to find some more downwards movement, however I expect this area to ultimately hold as our next local bottom/beginning of the next impulsive wave upwards
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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.