Marker breaking out?

13 במאי 2022

I know that title might sound a bit weird considering what we have just seen on the crypto boards in the last several days, but take a look at MKRUSD traders. We have a lower break rejection with short-term support. After this point was reinforced yesterday, we saw a 10% rally to close out Thursday. Today’s picture continues to look good, with a dominant trend break off today’s 28% gain (at this point).

If buyers can hold the majority of today’s gains and set up a new higher low after the next retrace, this could be the start of a new short-term trend higher.

TradingView community, what are your thoughts?