Panic buying setting in for all the bottom sellers. Combination of that and a short squeeze from institutions most likely who have been shorting since 60-70 region.
Notice previous resistance in price action and resistance in very oversold RSI.
Notice the black arrow in the bottom right showing the big green candle. Thats a big rush of buyers met with subsequent selling and should reverse back down relatively soon i believe
Notice previous resistance in price action and resistance in very oversold RSI.
Notice the black arrow in the bottom right showing the big green candle. Thats a big rush of buyers met with subsequent selling and should reverse back down relatively soon i believe
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