Following the path beautifully. Perfect retrace, hidden bullish, double bottom on regular bullish divergence. Wanted to break 5c with RSI moving back into convergence - and we have done that now. Bonus points for not printing hidden bearish divergence either. In the zone where sellers could step in soon. It may go back and flip resistance into support but we don't want to go any further than that level (5-5.2c) otherwise this move up could prove to be corrective - signs so far saying it's not corrective. Break 6.2c confirms the bounce is a new short-term uptrend, and then 8c won't be far away. Above 8c is a resumption of the long-term uptrend.
Breaking 5c was a really key victory for the bulls though, as there are not many trapped buyers above that.
No guarantees, but there aren't many reasons for sellers to step in between here and 8c, and then above 8c, there'll be no reason at all other than profit taking. And that's the best kind of selling you'd be happy to tolerate.
Following the path beautifully. Perfect retrace, hidden bullish,...
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