As the entire crypto market pushes up into a major area of interest the million dollar question is do we enter an accerlerated move to the upside or be looking for one more 20-50% pull back.
Both models are equally valid and price action over the next few days should give a good signal as to which direction we are head.
This is the daily chart for SFUND and since the bottom price has broken through a macro resistance level, stopped in the macro golden pocket, pulled back to retest the support resistance flip and BOUNCED.... Now has retrace 50% of the way to the local high and is pulling back.
IF price can hold this macro support resistance flip as in the current price as of writing higher prices at an accelerated rate is likely.
IF price brakes through and rejects off the bottom side there is plenty of time for one more serious pull back.
Current Trading Plan:
Watch the current pull back on small time frames for a brake of the macro resistance leve just below the current price. A brake through and retest rejection will indicate a significant pull back for reaccumulation.
For now price is trending to the upside. Plan is to hold long until there is a reason not to.
Trade Well...
Your Friend,
Degen
Both models are equally valid and price action over the next few days should give a good signal as to which direction we are head.
This is the daily chart for SFUND and since the bottom price has broken through a macro resistance level, stopped in the macro golden pocket, pulled back to retest the support resistance flip and BOUNCED.... Now has retrace 50% of the way to the local high and is pulling back.
IF price can hold this macro support resistance flip as in the current price as of writing higher prices at an accelerated rate is likely.
IF price brakes through and rejects off the bottom side there is plenty of time for one more serious pull back.
Current Trading Plan:
Watch the current pull back on small time frames for a brake of the macro resistance leve just below the current price. A brake through and retest rejection will indicate a significant pull back for reaccumulation.
For now price is trending to the upside. Plan is to hold long until there is a reason not to.
Trade Well...
Your Friend,
Degen