Short term retracement setup for bullrun
1D Heiken Ashi chart is printing smaller sized bars and wicks showing a possible trend reversal. I'm building a position here as there are several different TA elements happening across multiple timeframes.
Top level
1D: DCA into a position at 5.84
● 200EMA
● Fibonacci golden ratio 0.618
4H
Buy signal with price consolidating inbetween 0.50 and 0.618 Fib levels
● RSI increasing from 30 level
● MACD crossing up
1D
Price here is decreasing with RSI and MACD increasing
● Hidden bearish divergence
I think in the short term dip lower to the original target level. 5.84
Top level
1D: DCA into a position at 5.84
● 200EMA
● Fibonacci golden ratio 0.618
4H
Buy signal with price consolidating inbetween 0.50 and 0.618 Fib levels
● RSI increasing from 30 level
● MACD crossing up
1D
Price here is decreasing with RSI and MACD increasing
● Hidden bearish divergence
I think in the short term dip lower to the original target level. 5.84