Stacks (STXUSD) is strongly bouncing from the projected support after completing wave C of a larger ABC flat correction on the weekly chart. We also spotted a completed five-wave bearish impulse within wave C, while the sharp rebound back above the channel resistance line suggests that a potential bottom may be forming. To confirm the bottom, we need to see a further rally above 0.38, while a short-term corrective pullback remains possible.
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