Simple idea. The daily RSI seems to have formed a symmetrical wedge from late January until now. We can see that on Feb 28th we broke out of that wedge and are now in the process of retesting the top of the wedge as resistance. If we are able to hold it as support we could see a nice bounce to the measured target of the wedge.
Price targets. I think we could start with the last local high at around $5 but I could also see it reaching the top of the macro wedge at around $6.50. If the bull market really takes off then a break above the macro line of resistance could see us go back to $16 or even retest all time highs.
Price targets. I think we could start with the last local high at around $5 but I could also see it reaching the top of the macro wedge at around $6.50. If the bull market really takes off then a break above the macro line of resistance could see us go back to $16 or even retest all time highs.