Coming at the back of this downtrend could be a new structure.
Price is currently testing a daily level of resistance at $6.5 and has already thrown wick rejections at the level.
However, we have broken out of the long-term descending channel on the daily timeframe, and as well pushed with bullish momentum into this current level.
We could still see sells, but if price breaks above this current level, we could see the next stop at $13.
Price is currently testing a daily level of resistance at $6.5 and has already thrown wick rejections at the level.
However, we have broken out of the long-term descending channel on the daily timeframe, and as well pushed with bullish momentum into this current level.
We could still see sells, but if price breaks above this current level, we could see the next stop at $13.