Update on: $IREN

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$IREN - The price is retesting the Demand Range, which has acted as a strong support range over the last couple of months.
At the same time, the Cryptic Bottom Index is starting to improve and has now moved into the yellow region, signaling that the price may be getting closer to forming a bottom region.
Also, the Cryptic Pressure Engine is starting to show increasing buyer pressure, signaling that a potential accumulation period may be developing around these levels.
Because of this, I believe the most likely short-term outcome is a bounce from the Demand Range.
That said, the price could still break lower toward a retest of the Weekly Support ranges before managing to reverse back to the upside and continue the broader uptrend toward a break above the Institutional Volume range.
As long as the price holds above the Weekly Support range, the most likely outcome remains further upside continuation.
A reclaim and hold of the 2D Cryptic Value Line would confirm that the consolidation period has ended and that the reversal is durable.
On the longer timeframes, I remain positive.