Current Zone: We are in the 'zone of despair,' where weak investors feel fortunate to have sold. This emotional response typically indicates a significant turning point.
Previous Activity: We successfully closed the Fair Value Gap (FVG) from July 2020, marking an optimal entry point. I anticipate the price will surge from here.
Future Outlook: I predict that
NIO
could drop to $3.85 to close the gap from June 2020 and complete the falling wedge pattern. The Relative Strength Index (RSI) suggests that the falling wedge is likely to break soon. From $3.85 or this level, I see the price potentially surging upward. Should we close below this, we could be heading toward the $2.90 zone
Disclaimer: I am not a financial advisor. This analysis is for informational purposes only and should not be taken as financial advice.
Previous Activity: We successfully closed the Fair Value Gap (FVG) from July 2020, marking an optimal entry point. I anticipate the price will surge from here.
Future Outlook: I predict that
NIO
could drop to $3.85 to close the gap from June 2020 and complete the falling wedge pattern. The Relative Strength Index (RSI) suggests that the falling wedge is likely to break soon. From $3.85 or this level, I see the price potentially surging upward. Should we close below this, we could be heading toward the $2.90 zone Disclaimer: I am not a financial advisor. This analysis is for informational purposes only and should not be taken as financial advice.
Comment:
The chart is starting to show a bullish reversal and a short squeeze on $NIO. We have closed the gap, as I mentioned, at $3.85. There is another fair value gap (FVG) at $2.80, but I don't think we will reach this level. It might drop toward $3.50, but no more, in my view. I added some long positions at this level yesterday