As per my post yesterday, ~Price has pushed lower, however, the buyers kept pulling the price back. This indicates there are still plenty of buyers and they are drawing the sellers out.
I feel we will see a further dip to squeeze out the last of the sellers before a push higher. I don't see the price dipping lower than the 0.618 Fib before the buyers jump back on the bandwagon.
We could see a little resistance around the ascending trendline, but as we have already broken through within the past 7 days, this has now been weakened and shouldn't form much of a barrier.
Once above this level, we should have a clear run to our next target.
If the price breaks below the 0.618 Fibonacci, we will need to re-assess the charts.
I feel we will see a further dip to squeeze out the last of the sellers before a push higher. I don't see the price dipping lower than the 0.618 Fib before the buyers jump back on the bandwagon.
We could see a little resistance around the ascending trendline, but as we have already broken through within the past 7 days, this has now been weakened and shouldn't form much of a barrier.
Once above this level, we should have a clear run to our next target.
If the price breaks below the 0.618 Fibonacci, we will need to re-assess the charts.
