Long-term, demand has been in power since March 2020. To switch a trend that has been moving up on demand power for such a longtime, price would have to go through a distribution cycle, with a stop in action in the first place. It did make a some sort of stop in action on the 1st February when it did reach the 0.74-0.75 and I expect another test toward it considering how the demand has been heavy for so long, and then see how price would react at this area.
if there's a break of;
-upside 0.73; I would consider 0.74 as next target.
and if we would have a break upside 0.74; our next target would be 0.75
Would not consider it a buy unless it breaks upside 0.73, since I also expect a move back down to the 0.71-0.72 area before moving back up long term
if there's a break of;
-upside 0.73; I would consider 0.74 as next target.
and if we would have a break upside 0.74; our next target would be 0.75
Would not consider it a buy unless it breaks upside 0.73, since I also expect a move back down to the 0.71-0.72 area before moving back up long term