A lot of noise about this online, thought a technical view would be interesting.
So, the uptrend was like a 🚀. The same rising trendline couldn't stop the fall, and maybe just slowed it down, if at all.
Now for the good part. The descending trendline was broken, with a very mild bounce from the 73.6 fib level.
There is a chance this is the bottom.
That broken trendline is very positive.
I would still want to see a proper bottom form before getting in.
Happy trading!
So, the uptrend was like a 🚀. The same rising trendline couldn't stop the fall, and maybe just slowed it down, if at all.
Now for the good part. The descending trendline was broken, with a very mild bounce from the 73.6 fib level.
There is a chance this is the bottom.
That broken trendline is very positive.
I would still want to see a proper bottom form before getting in.
Happy trading!