The price has been pushed down by an excess of supply... and it's been trapped by that red line. Eventually, supply became exhausted and demand took over... which just happened -- as price broke above that down trend line.
On Balance Volume is trending up, so institutions accumulating this asset have been increasing. Confluence of price breaking out and volume rising look promising.
For Elliott Wave Traders, this may be a Wave 3 (the longest wave)???? I dunno, I'm not an expert. Thoughts are appreciated!
On Balance Volume is trending up, so institutions accumulating this asset have been increasing. Confluence of price breaking out and volume rising look promising.
For Elliott Wave Traders, this may be a Wave 3 (the longest wave)???? I dunno, I'm not an expert. Thoughts are appreciated!