This is a Short and Long, so I will post it as Neutral.
In the past 8 hours we have fallen out of the heavenly bullish channel and we are now looking at the possibility of a big correction. The pump got us to the top bands and above them, where it got rejected. Now it might want to dip towards the other end of the bands and hit the lows hard at the 236 fibonacci retracement. That should cause a lot of panic selling and opportunity to buy cheap.
If we do get down there somehow, I will be placing my long and will hold win or lose and target 9 cent target, for me it would mean long term hold even after hitting 9 cents.
I expect a big correction having had that bullish channel broken, together with DXY being at S3 support and bottom of bollinger bands, which might stir up some jumps there.
All in all, I will be cautiously watching and expecting the dip, but if somehow it starts returning to bullish territory, I will change my tune.
In the past 8 hours we have fallen out of the heavenly bullish channel and we are now looking at the possibility of a big correction. The pump got us to the top bands and above them, where it got rejected. Now it might want to dip towards the other end of the bands and hit the lows hard at the 236 fibonacci retracement. That should cause a lot of panic selling and opportunity to buy cheap.
If we do get down there somehow, I will be placing my long and will hold win or lose and target 9 cent target, for me it would mean long term hold even after hitting 9 cents.
I expect a big correction having had that bullish channel broken, together with DXY being at S3 support and bottom of bollinger bands, which might stir up some jumps there.
All in all, I will be cautiously watching and expecting the dip, but if somehow it starts returning to bullish territory, I will change my tune.
