BLOKTOPIA - BLOKUSDT - Distribution Completed, New Buy Zone
Not financial advice.
Bit of a messy chart but it seems pretty clear.
BLOK has long term great fundamentals and I'm bullish in the long term.
In the short term - 4hr/D - looking like we're going to be retracing down to the buy zone marked on the chart.
Lots of price action levels that have confluence with fib retracement from bottom to top of the recent move to our local high around 0.14.
overall an opportunity to get in if it dips. Maybe a good time to take profits and look for a reentry lower if you're active enough.
could see this grinding out lower than 0.10 if the project fails to move soon. The launch will be in March 2022 - and this will only be a 1st floor launch. So long term - this is a strong play, short term - investors may be impatient and smart money will accumulate lower.
Invalidation: if bullish volume returns and we close a 4 hour candle roughly above the red box zone - than we should we looking at possible continuation to the upside, still slow grind.
Bit of a messy chart but it seems pretty clear.
BLOK has long term great fundamentals and I'm bullish in the long term.
In the short term - 4hr/D - looking like we're going to be retracing down to the buy zone marked on the chart.
Lots of price action levels that have confluence with fib retracement from bottom to top of the recent move to our local high around 0.14.
overall an opportunity to get in if it dips. Maybe a good time to take profits and look for a reentry lower if you're active enough.
could see this grinding out lower than 0.10 if the project fails to move soon. The launch will be in March 2022 - and this will only be a 1st floor launch. So long term - this is a strong play, short term - investors may be impatient and smart money will accumulate lower.
Invalidation: if bullish volume returns and we close a 4 hour candle roughly above the red box zone - than we should we looking at possible continuation to the upside, still slow grind.
Comment:
Daily still hasn't closed below 9 cents - good sign.
Comment:
Daily closed below 9 cents and further dumpage ensues.
Wick down already to the 0.50 Fib retracement. Can possibly see lower.
Looking for some time in accumulation in the buy box range before continuing higher.
Invalidation if we close a 4 hour or daily candle below roughly 9 cents. If we do - we are likely looking lower.