As it can be inferred from the chart, a powerful bullish candle has been printed and the price has broken out of the descending channel illustrated on the graph. We are expecting for a correctional move to happen before further pump takes place. We are eyeing the 0.74 area of support that lines up with 0.618 Fibonacci retracement level as the end of the short-term correctional move. Then, we will set our target price at the 0.9 area of resistance and patiently wait for the price to keep pumping up.
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.
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.