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For those with a longer time frame use the monthly chart. Each candle is a month of action
click 1M (monthly), candlestick, widescreen
very clear.. its basing. July, Aug and so far Sept candles are ALL
inside the face-tearing long red candle of June . April :long red candle, May :long red candle, June:
longer red candle, blow-off -sent the price back to its breakout out site of Dec 2020. Lsat week it was taken below the July and Aug lows but brought back up immediately. This 3 mth action is very telling, strong defense here.
more than 1 indicator is showing a divergence with price action which is bullish (the RSI, stoic)
this is deeply oversold on this time frame . $25,000-$18,500 zone is its current playbox ..a break outside this box would be very significant.
I believe the chart suggests a break to the upside is more probable than a downside (
break of June's low)
note ; on the weekly chart? a double bottom just occurred........in the next 3-6 weeks if it were to form a triple -bottom that is come back to re-test the recent low and HOLD ? damn , that would be bullish.
a break to the downside would need a catalyst , imo.