When in doubt zoom out!12H chart - A few points to discuss...

When in doubt zoom out!

12H chart - A few points to discuss here!

1. We have been within a range for over 12 months (0.125 - 0.040). The lows of this range are the previous yearly highs (nice confluence)
2. We have formed a symmetrical triangle over this period. We can see clear lower lows (LL) and lower highs for the majority of 2022. This trend was broken (ie HH and HL) and for all of 2023 we have been putting in higher highs (HH) and higher lows (HL). Currently we are still making HL.
3. Personally I don't like shapes ie 'symmetrical triangles' ect but this formation with MAY show uncertainty in the market. We are range bound on the HTF.
4. VRVP splitting the range at 0.094
5. Upside - If we break this 'symmetrical triangle' resistance and see a daily close above I would be looking for price targets at:
a. FIB 0.5 - 0.13 - confirming a breakout of the range (look for a retest confirming resistance is now support)
b. FIB 0.618 - 0.15 - Please of STH taking profits at this level.
c. FIB 0.786 - 0.18 and then back our March 2022 highs (0.215).
d. Once we get a daily close above the FUN will begin - ie the golden pocket is at 0.325 (and even higher on the weekly)
6. Downside - If we have a confirmed trend reversal and make a LL (a daily close below 0.056) we will looking to range lows at 0.40. If we see a daily close below and a retest into that support (now resistance) we would be looking towards 0.022 area.

Some positive news and all these lines mean nothing at all

Not financial advice!

Good Luck SH! Bring on the coming weeks and months!