Showing signs of recurrence.
Signs of retracement from this price to 70:
1. Inverse head and shoulders target reached (AUTO is not included in this chart)
2. On Weekly timeframe (This is Monthly Chart) RSI reached 83
3. Move has previously been done back in the dot com hype
4. Matching retracement drop in % (retrace to 50/100MA)
5. Red lined resistance box...
As you can see, the pumps are getting smaller and smaller. A rising wedge is forming. + The RSI is way oversold (last time oversold on the 1D chart was JULY 2018!). This is bearish . I closed my longs.
Buy now so you can profit when there is another FOMO pump.
OR
Sell and wait for the touch on the trendline + Supportline + The supportline of old resistance...
Rsi higher lows, there are 2 support lines, can already go up from orange line, but can also go down to red support line. There is a lot of volume in it. The distance of the first 2 points is 50% so targets can go 50%. If orange support line breaks, the red and the green ones are the support
Rsi higher lows, there are 3 support lines, can already go up from orange line, but can also go down to red support line. There is a lot of volume in it. The distance of the first 2 points is 50% so targets can go 50%. if it breaks the orange line, the red and the green one are the supports.
