Dragons are the most powerful creatures!!
Let's take a look at Tsuka.
This is a meme coin, yes, a dragon meme coin.
Just by looking at the technicals of this coin, it looks like it could be turning the corner. There could be a fairly substantial move coming soon. Of course nothing is confirmed yet, especially on this time frame (weekly) other than the volume. The volume has spiked up in a big way this is confirmed for two weeks straight now.
The price action
The first week lead to a 100% move (mostly in one day) which did not hold as it sold off with that very large wick. The key to all of this is even though the sell off happened the volume has remained high price action has bounced again, while the technicals are still showing strength and gaining momentum.
Final analysis
Putting all the meme coin non sense and Japanese dragon lore aside, the technicals for this coin look strong. Although the weekly is a bigger time frame and is showing some signs of a reversal, the smaller time frames have also turned even more so. The 3day time frame is worth noting. On the 3 day the stochastics are showing the momentum gaining strength and are in the buy position, the MACD looks like it will cross in the next few days as the histogram is slowly creeping into the green from red. If this follows to the 5 day it should then all translate to the weekly.
My thoughts
Although still not a popular belief, bitcoin and crypto are in the early stages of a bull market. I think it will take sometime for Tsuka to work through some price levels and conquer some Moving Averages. As it grows and gains momentum and the trend flips, it will most likely move fast. This all could happen when the belief of Bitcoin comes back and investors realize the market isn't going much lower over the next few weeks. I think the risk of this coin going lower than it's recent price of of 3 cents is very low at this time.
As always, this is not financial advice. The Markets are chaotic and there is always risk of more down side.
Kind regards
WeAreSat0shi
This is a meme coin, yes, a dragon meme coin.
Just by looking at the technicals of this coin, it looks like it could be turning the corner. There could be a fairly substantial move coming soon. Of course nothing is confirmed yet, especially on this time frame (weekly) other than the volume. The volume has spiked up in a big way this is confirmed for two weeks straight now.
The price action
The first week lead to a 100% move (mostly in one day) which did not hold as it sold off with that very large wick. The key to all of this is even though the sell off happened the volume has remained high price action has bounced again, while the technicals are still showing strength and gaining momentum.
Final analysis
Putting all the meme coin non sense and Japanese dragon lore aside, the technicals for this coin look strong. Although the weekly is a bigger time frame and is showing some signs of a reversal, the smaller time frames have also turned even more so. The 3day time frame is worth noting. On the 3 day the stochastics are showing the momentum gaining strength and are in the buy position, the MACD looks like it will cross in the next few days as the histogram is slowly creeping into the green from red. If this follows to the 5 day it should then all translate to the weekly.
My thoughts
Although still not a popular belief, bitcoin and crypto are in the early stages of a bull market. I think it will take sometime for Tsuka to work through some price levels and conquer some Moving Averages. As it grows and gains momentum and the trend flips, it will most likely move fast. This all could happen when the belief of Bitcoin comes back and investors realize the market isn't going much lower over the next few weeks. I think the risk of this coin going lower than it's recent price of of 3 cents is very low at this time.
As always, this is not financial advice. The Markets are chaotic and there is always risk of more down side.
Kind regards
WeAreSat0shi
Comment:
It looks like the market might torcher the bears here for a few weeks before it ultimately moves up.
Comment:
2024 is setting to be an explosive year for TSUKA
tiktok.com/@wearesat0sh1