It's a great observation, tjamuna, it may play out that way and it's definitely worth watching for. The volume spikes coinciding with the price increases as you've circled, are extremely bullish regardless of whether or not the EMA turns out to be relevant.
Will it bounce of the EMA20 again? Maybe. I wouldn't try to call that in advance, but it's definitely a possibility. Friday's candle was clearly bearish and was the fourth consecutive red candle, so it's definitely most likely that we'll see a lower price early this week before any rally resumes. I don't think it's easy in this case to predict in advance whether it'll bounce off the EMA20, 0.057c support you suggest, the 5.5c target I suggested last week (though Friday's candle seems to have negated that target), or some other level, and while it's fun to read the tea leaves, I find it most important to recognise the existence of the various likely support levels/targets, to help recognise when the price has bounced off them. It's only when there is a very obvious target that I find it worthwhile to predict it in advance, but even then I'll wait for it to confirm before buying. In this case there are several potential targets pointed to by various indicators, within a pip or two of each other, and I wouldn't want to get bogged down through paralysis by overanalysis.
If I had to make a guess I'd say we'll bounce off 6.4c and narrowly miss touching the EMA20, but maybe that's optimism talking and touching the EMA20 around 6.2c is slightly more likely.
As long as we stay above 6c I have absolutely no concerns at all about this chart other than a very very small issue with the open gap at 4.5-4.6c. I doubt we'll see it filled and if we do I'll almost certainly not only top up but also buy a trading parcel, but it is a vulnerability if we get any sort of bad news.
Tallplumber: Providing content for silent hypothetical people doesn't hold much appeal! Haha. If they want to drop likes or lightbulbs to at least let me know they exist and want more, I'll be likely to continue, but if I'm just shouting into the wind hoping someone may be silently listening, the motivation will wear thin pretty quickly. As long as someone is appreciating it I don't mind taking part in the discussion, especially if others are willing to shoot down my stupid ideas where necessary to help me learn (not at all the same as folks like glish being idiots - if someone legitimately shows that I'm wrong I'll thank them especially if they're polite about it, if they attack foolishly it's just stupid). It does seem that there's some decent folks here among the idiots though, so I'll stick around for a while. Of course most people just want someone to put up charts with lots of lines on them, type out jargon they don't understand and say 'it's going to 15c within six months, should be 40c by the end of the year and hopefully we'll see 10c this month, only upwards from here', but fan service is not my forte.
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