We have more indicators of a rise than a fall, the fib level makes a good support, the GMMA shows the investors backing the up movement - yet a compression is observed which means a stronger price movement coming.
The DMI shows that the -DMI failed to cross the +DMI and the ADX grows slowly.
The market depth shows a lot of buy volume coming in.
Yet the downtrend hasn't been fully broken - so let's watch this next hours if the price holds, as an ascending triangle is formed, and a GMMA compression at the same time.
If the price goes down and breaks the new support at the fib level, the downtrend remains, if the price holds or go up, we can rest assured that we are back on track.
So if the downtrend is broken, a good buy level is above the first candle that is fully closed above the downtrend.
The DMI shows that the -DMI failed to cross the +DMI and the ADX grows slowly.
The market depth shows a lot of buy volume coming in.
Yet the downtrend hasn't been fully broken - so let's watch this next hours if the price holds, as an ascending triangle is formed, and a GMMA compression at the same time.
If the price goes down and breaks the new support at the fib level, the downtrend remains, if the price holds or go up, we can rest assured that we are back on track.
So if the downtrend is broken, a good buy level is above the first candle that is fully closed above the downtrend.