Weekly RSI brokeout from trendline starting at the ATH .
Possible short to medium term bullish idea: we could rally until RSI retests even longer term trendline (which started in Jan 2021). From there, two scenarios:
1)rejection from this long term trendline and retest of short term trendline - which would cause the final leg down of this bear mkt or 2) a breakout from long term trendline - signifying start of new bull mkt...
I believe scenario nr 1 is more likely
Possible short to medium term bullish idea: we could rally until RSI retests even longer term trendline (which started in Jan 2021). From there, two scenarios:
1)rejection from this long term trendline and retest of short term trendline - which would cause the final leg down of this bear mkt or 2) a breakout from long term trendline - signifying start of new bull mkt...
I believe scenario nr 1 is more likely