The technical analysis from the daily timeframe shows that the increase since the end of August has been parabolic. While this is unsustainable in the long run, the increase can continue if the parabolic ascending support line is intact.
If the line stays intact, there is a confluence of resistances between $105 and $110
The resistances are created by the 0.618 Fib retracement level of the entire decrease since the all-time high (white) and the 2.61 external Fib of the most recent drop (black).
Despite this bullish TRB price prediction, a daily close below the parabolic ascending support trendline can lead to a 45% drop to the closest support at $45.
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