The rebound is not over yet

2023년 8월 11일

The decline on the left presents a five wave structure, which generally means temporarily stopping the decline and requiring a rebound. RSI rebounded for 30 minutes and only reached around 50, and the bottom of cci deviated after 30 minutes, so the rebound indicates that it has not yet ended. It can be set as a target near rsi 60. And the highest point of the rebound is 0.236, which usually needs to reach 0.382 or 0.5 or 0.618. We set the lowest target at 0.382 because this is also a place of dense resistance, with a green horizontal line.
If there is a breakthrough in the effective upper fractal within 5 minutes, as shown by the yellow line and currently does not fall below the effective lower fractal, then it proves that the upward trend is the direction of the trend.