On the above weekly chart price action has corrected over 90% since early 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Look left. Price action has now confirmed support on past resistance.
3) A weekly life cross prints.
4) Lastly, price action has exited a bull flag. The extension measures a 2500% move to target.
Is it possible price action continues to correct? Sure.
Is it probable? No
Ww
Type: Trade
Risk: <6%
Timeframe for long: This month
Return: 2500%