PPCBTC Might Be Forming An Uptrend

PPCBTC has had a strong momentum move in a weak momentum downtrend. Typically we see a new trend form when we see strong momentum in a weak trend. Therefore this could signal that PPCBTC is switching to an uptrend. We are still buying into consolidation on the daily chart, so we're looking for an entry here on the 1h.

We have limit buys set for the 618 fib retracement of this recent movement, with a stop loss below support.

Our targets are the resistance level of the recent movement, and the natural 1.618 fib extension of the movement.

DI+ is well above DI- and ADX is rising above 25, which shows this is a potential good entry on the 1hr chart because bullish momentum is much stronger than bearish momentum and the trend is strengthening.