Bounce Token (AUCTION) to $40On the above 5-day chart price action has corrected over 90% since November 2021. A number of reasons now exist to consider a long position, including:
1) Price action and RSI resistance breakouts.
2) Price action backtests past resistance as support.
3) Point (2) occurs on the 0.236 Fibonacci level.
4) Price action is now on a year long support.
5) Point (4) also tests the ‘bottoming candle’ - excellent.
Is it possible price action falls further? Sure.
Is it probable? No
Type: Trade
Risk: <=6%
Timeframe: Act now
Return: 1000%