Here's why it may be a potentially good buying opportunity:
- a possibly exhausted extended correction,
- price is testing the support from the trendline,
- likely support at the 100% size of the prior swing down (red line) and the minor lows to the left.
- a possibly exhausted extended correction,
- price is testing the support from the trendline,
- likely support at the 100% size of the prior swing down (red line) and the minor lows to the left.