Big one for this week to watch. We saw a short term rejextion so far but there could still be some room up after a cool down period. My key reistance I am watching is 154.60. For me this area is huge Becuase before the drop we had to the new lows, this was a sideways bearflag channel that chopped around from 154.60 support to 182.50 reistance.
For me meta should run into some
Significant reistance here. This was a sideways range that potentially a lot of people who were buying that support, saw a big drop in there portfolios if they didn’t sell out.
Also the fact of a lot of buying occurring in this zone, that causes for a reostance area to backtest and fail hard off of. I will be watching closely as we reach this level. If meta decides to have enough gas in the tank to reclaim that level it could open a new can of worms for the new range play but we cross that bridge if we get there. For now I’m looking for that key reistance
If we pull a fib retracement from the last rejextion HIGH wick we saw after the blow off top to the low of the move, the 50% retracement is 162$ which would bring us back into the box if we decided to contiue going parobolic this will be something to watch as well
While the .618 is 145.15,on a major pullback that could be a decent dip buy level
For me meta should run into some
Significant reistance here. This was a sideways range that potentially a lot of people who were buying that support, saw a big drop in there portfolios if they didn’t sell out.
Also the fact of a lot of buying occurring in this zone, that causes for a reostance area to backtest and fail hard off of. I will be watching closely as we reach this level. If meta decides to have enough gas in the tank to reclaim that level it could open a new can of worms for the new range play but we cross that bridge if we get there. For now I’m looking for that key reistance
If we pull a fib retracement from the last rejextion HIGH wick we saw after the blow off top to the low of the move, the 50% retracement is 162$ which would bring us back into the box if we decided to contiue going parobolic this will be something to watch as well
While the .618 is 145.15,on a major pullback that could be a decent dip buy level