Hello everyone,
some of you might watch this because you bought Pickle Finance after it has been shilled several times on the YouTube channel Crypto Banter. You might have bought in at a high level and seen the price decline over and over again.
However, we might have spotted a trend reversal. Only 5 days ago Pickle saw it's lowest point at $6. And this might have been the bottom.
The reason is Pickle is forming a falling wedge. This is a bullish formation where the price sets lower highs and lower lows, and the range is contracting, meaning the sellers are slowly losing pressure. Despite believing a move down will happen in the next few days, I think a breakout to the upside of the wedge in the next 1-2 weeks will happen. The RSI is showing strength, reaching a level last seen before the huge Bitcoin crash. It also shows a bullish divergence from the last low at $6. Further downside is also still a possibility as shown by the red arrow, however I do not favor this option but it is always something to keep in mind.
Did you fomo in at the higher levels? This is a great time to lower you average buy-in. It will take some time to recover though. Bitcoin and larger alts usually run first and we haven't really see that happen, but in crypto, the market can turn at any time!
some of you might watch this because you bought Pickle Finance after it has been shilled several times on the YouTube channel Crypto Banter. You might have bought in at a high level and seen the price decline over and over again.
However, we might have spotted a trend reversal. Only 5 days ago Pickle saw it's lowest point at $6. And this might have been the bottom.
The reason is Pickle is forming a falling wedge. This is a bullish formation where the price sets lower highs and lower lows, and the range is contracting, meaning the sellers are slowly losing pressure. Despite believing a move down will happen in the next few days, I think a breakout to the upside of the wedge in the next 1-2 weeks will happen. The RSI is showing strength, reaching a level last seen before the huge Bitcoin crash. It also shows a bullish divergence from the last low at $6. Further downside is also still a possibility as shown by the red arrow, however I do not favor this option but it is always something to keep in mind.
Did you fomo in at the higher levels? This is a great time to lower you average buy-in. It will take some time to recover though. Bitcoin and larger alts usually run first and we haven't really see that happen, but in crypto, the market can turn at any time!