BTG has been pulling back from its high at the strike of 2015. A full wave A and wave B have played out and we're now completing, what seems to be, wave C. Having completed 3 of the 5 waves - the prices could well bounce back up to the broken trendline at around £5.90 before falling to the previous low at £5.00, where a strong support lies.
Low volume has broken the support on the OBV and the the RSI is struggling to gain momentum. With the price sitting under the daily EMA and indicators pointing down, the price needs to test previous supports and show strength before any buys are considered.
Happy trading!
Low volume has broken the support on the OBV and the the RSI is struggling to gain momentum. With the price sitting under the daily EMA and indicators pointing down, the price needs to test previous supports and show strength before any buys are considered.
Happy trading!