N
Nice work.
I still think short term it's in the wedge, but longer term clearly a bottom forming.
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Daily:
Stochastics crossed bearish
MACD weakining.
RSI cross bearish.
Would tend to say sideways or softening to some extent short term.
Would like to see the orange RSI and stochastics line i've drawn be breached TBH.
But need to take into where this cycle sits in the larger picture.
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MACD is weakening but hasn't yet throw a bullish candle.
Stochastics oversold now.
RSI flattened.
As rightfully pointed up it's look more likely to bottom soon and potentially a very good long term entry.
14.5/14c in the short term, but overall does look more likely to break bullish out the descending wedge.
upon a bearish break I'd want to see 16.5c breached and held. Weekly would look very good under this.
10c would still be my target if it broke downwards, but as you say given the upcoming news something would need to sheet the tin to warrant a 40% drop. more likely to see that on the upside in the shorter term IMHO.
SF2TH
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N Nice work. I still think short term it's in the wedge, but...
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