If it brakes below 2.7 significantly it looks like a longer downtrend ! Watch for bounces with volume in the critical zone when we reach our last resistance at ath watch for doubletop !
Komen
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also we can see a double bottom followed by a breakout on 3.78 !
@Sofsayen Thanks for your analysis! What does the double bottom indicate?
Sofsayen
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@unfathomableman, a double bottom is a bullish scenario ! but this also can turn into a flatbottom triangle wich is a bearish sign !
unfathomableman
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@Sofsayen, Thank you very much for the visual explanation! this doesnt affect the critical area "buy in" zone does it? Are we still looking at 2.8 to 3.3 buy in?
Sofsayen
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@unfathomableman, yes ! if we see a breakout from 3.7 _ 3.6 ish bullish confirmation will be at somewhere 4.20 for breakout , above the downtrendline ! if we get confirmation it might be a good idea to buy in !