We could break the triangle either direction at this point. Volume seems relative, no real revelations there. MacD is about to get a crossover on the daily which could lend to the more bullish perspective here at least for the short term.
Many coins are in this pattern and in general most look like a bearish pennant. But when looking from weekly perspective things looks more bullish. My main question is WHO WILL BE BUYING? In the US people have already used up their stimulus checks, and many people were burnt by the big drop recently. I can't imagine that many retail investors have been sitting on the sidelines waiting for this pullback, since most newbies FOMO in at the top just like the institutions like.
Curious to hear any input anyone has about where the new buyers will come from.
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Many coins are in this pattern and in general most look like a bearish pennant. But when looking from weekly perspective things looks more bullish. My main question is WHO WILL BE BUYING? In the US people have already used up their stimulus checks, and many people were burnt by the big drop recently. I can't imagine that many retail investors have been sitting on the sidelines waiting for this pullback, since most newbies FOMO in at the top just like the institutions like.
Curious to hear any input anyone has about where the new buyers will come from.
👇👇👇👇Join the discussion👇👇👇👇
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