My initial view when looking at the recent price action is a rising triangle, and infact there was a slight pump when price rejected the 20ema...however, a breakout on a chart like this coming out of a recent pump would require more accumulation above the 20EMA right under the main resistance. We didnt get that and had a fake out - first time with the wick, and secondly with the M recently formed.
When looking at the daily, its a shit show at that level and that only tells me its like that this triangle turns into a range - retesting a trendline lightly shaded that price interacts with often in the beginning of this chart. From there it would then begin to look like the charts we've seen from VET, FTT , FLOW, and IOTX to name a few.
Regardless, there is a lot of accumulation and manipulation going on on the smaller time frames - but given this slight 20% range area, it wouldnt hurt to accumulate near the middle.
When looking at the daily, its a shit show at that level and that only tells me its like that this triangle turns into a range - retesting a trendline lightly shaded that price interacts with often in the beginning of this chart. From there it would then begin to look like the charts we've seen from VET, FTT , FLOW, and IOTX to name a few.
Regardless, there is a lot of accumulation and manipulation going on on the smaller time frames - but given this slight 20% range area, it wouldnt hurt to accumulate near the middle.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).