So, this coin has done very well in the past month and surprised me in certain days where every coin was dumping and this one kept going up or held up, hwoever this is a bear flag + bear DIV which means this should go down.
During this bull season I saw many rising wedges with bear DIV breaking up and going up (ETH fore example) and I thought "buy pressure is so high to invalidate TA", however as you check recently, those breakouts just enlarged the rising wedges and eventually went down. This might also happen with bull flags, who knows. For sure check RSI, it goes over the line I've drawn this will probably invalidate the TA, at least temporarily.
If price goes down as I think use the supports I've drawn to understand where it could stop, also check BB lower band, that might work as support as well. I strongly DOUBT that, in case of dump, price would follow completely the TA and reach the latest support, but this is just a feeling because it's too low.
During this bull season I saw many rising wedges with bear DIV breaking up and going up (ETH fore example) and I thought "buy pressure is so high to invalidate TA", however as you check recently, those breakouts just enlarged the rising wedges and eventually went down. This might also happen with bull flags, who knows. For sure check RSI, it goes over the line I've drawn this will probably invalidate the TA, at least temporarily.
If price goes down as I think use the supports I've drawn to understand where it could stop, also check BB lower band, that might work as support as well. I strongly DOUBT that, in case of dump, price would follow completely the TA and reach the latest support, but this is just a feeling because it's too low.
Comment:
So far we're still in the bear flag, be cautious if you enter a position here
Comment:
from a TA point of view this is the opposite we should have expected, the RSI is over the bear DIV line I had drawn which means that the bear flag is now invalidated. I've already said what happened in similar cases last time I saw something similar happening. Enter the trade at your risk
Order cancelled:
clearly this pump defies TA since it was a bear flag which pumped upwards. If you shorted I hope you used stop loss. I'm sorry if my TA wasn't right this time.