Being this is a silly crypto meme coin it is hard to say if prices will hold but with that said on the short term still tradable. Risk profile on meme coins is an obvious 100%.
This is a daily chart showing a likely complete measured move with a 9 day down trend. Lower time frames are looking positive bringing this in play for a potential retrace and if the crypto market as whole pushes up possible continuation.
Personally I see these things as potentially profitable PLAY and capital investment should be minimal if at all.
To trade this will be completely reliant on the daily trend IF one developes. Simply looking for daily higher highs and higher lows. Unloading above previous day highs and looking to retake above previous day lows. This is a very simple strategy sticking with the trend as these tend to retrace 50-75% of nearly every move they make.
Trade Well....
Your Friend,
Degen
This is a daily chart showing a likely complete measured move with a 9 day down trend. Lower time frames are looking positive bringing this in play for a potential retrace and if the crypto market as whole pushes up possible continuation.
Personally I see these things as potentially profitable PLAY and capital investment should be minimal if at all.
To trade this will be completely reliant on the daily trend IF one developes. Simply looking for daily higher highs and higher lows. Unloading above previous day highs and looking to retake above previous day lows. This is a very simple strategy sticking with the trend as these tend to retrace 50-75% of nearly every move they make.
Trade Well....
Your Friend,
Degen