TWTR is currently at a very important junction. There is the cloud & a convergence of moving averages giving strong support.
Moving averages ma50 x 150x 200 x100 with price holding ma50 in the last few days. If you draw a downtrend line from recent tops, price is crawling exactly on the line
trying to breakout.
Price may still consolidate & further constrict the...
TWTR & TSLA fell due to ELON MUSK’s selling of TESLA shares to buy TWTR @54.20/share but later retracted when TWTR fell. Investors dont like uncertainties.
TWTR may be doing a M-pattern to reach the 29 pivot which also a FIBO 0.854 retracement from ATH 80.75 to bottom 20. 29 is also a move downward the size of the yellow square.
However, it may have an oversold...
As we saw doge coin experience last year its pump to 0.7 and its fump to 0.14 , I personally expect this dump dor tweeter to 24 and even 12 .
The channel can break from bottom but it is based on weekly timeframe and long-term analysis
NFA
It is my opinion and it is not financial advice
