Update from the first idea
Using LOG FIB drawn on Weekly chart from all time high to all time low we find confluence on the 0.5 and 0.618 when compared to the recent mid term swing high to low. 1.272 and 1.618 (aug '22)
Also RSI on weekly chart looks very bullish. Strong support and bounce with continuation likely in the coming weeks and months. Targets posted on chart, not expecting all targets to be reached on first attempt.
There is possibly a correction or 2 coming this year before reaching all the targets but I expect all targets to be hit as a minimum.
Using LOG FIB drawn on Weekly chart from all time high to all time low we find confluence on the 0.5 and 0.618 when compared to the recent mid term swing high to low. 1.272 and 1.618 (aug '22)
Also RSI on weekly chart looks very bullish. Strong support and bounce with continuation likely in the coming weeks and months. Targets posted on chart, not expecting all targets to be reached on first attempt.
There is possibly a correction or 2 coming this year before reaching all the targets but I expect all targets to be hit as a minimum.
Comment:
Volume signature also confirms bottom is likely in
