it seems we've formed a bullish trend with three upward waves and created an ascending channel on the daily timeframe. After the wave C, we experienced a downward move, breaking the bottom of the ascending channel. Additionally, we now have a bearish divergence between the highs A and C and the current situation finds us standing at the previous B bottom before wave C. So If we break this support we might head towards retesting the $20 support or retesting the descending channel between the price range of $42 to $43.
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.