✴️ Covalent 100% Green, 200% Potential

KUCOIN:CQTUSDT   Covalent / Tether
The weekly session is reaching its end today.
Today a week ends/closes and this can send ripples through the market.

A week ending can turn into a bearish development or a bullish development.
The start of a new week.

➖ Covalent (CQTUSDT) closed last week above EMA100; bulls win.
Trading volume is the highest in a year and we are likely going to experience a close above a Fib. level.

While this move is already ongoing, which increases the pairs risk, it looks possible to experience a continuation.

I saw other pairs closing shy the weak which can signal a red start next week but here it is more mixed aiming up.

So here is the thing: We do not trade this type of chart setup. Normally we look at those trading low, near support; why? When the action is ongoing as it is now, the chart can look great and all but a retrace can start tomorrow and turn into a correction. If you buy at the bottom, you can't go wrong. That's the distinction.

👉 With that said, the chart looks bullish with potential (key word) for additional growth.

Make sure to do your own planning and research before trading and buying.

Thanks a lot for your continued support.


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