Ataims 8176 

Weekly Timeframe 

 

After the big drop last year, prices had been in a consolidation phase for 5 months, indicating that everyone had left the party. Now, let's analyse what had happened in the past to further understand what just happened and what can we do to get out before the huge drop.

 

Firstly, we can clearly see that the bankers had separated the pricing structure into Level 0, Level 1 and Golden Ratio Level. With a few Fibonacci Supports, 0.236 and 0.618. These levels are very important as the bankers may re-use the previous Fibonacci Supports in the future. Next, we can see that prices peaked at the Golden Ratio Resistance. Prices proceed to form a Head & Shoulders Chart Pattern before the massive drop back all the way towards Level 0.

 

Today we can see that smart monies started to collect again at Level 0. The surge in volume further justify the collection. This indicates the return of interest in this company and potentially start a new trend. 

 

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