If we can hold this level I think we can make a new high eventually. There's hidden bullish divergence. And we are under daily VWAP. Also there are probably a lot of shorts that were taken over the past 24 hours that are going to close / get stopped if price moves up.
The market has to go down to go up. This is a good R/R for longs. Shorts are just hoping for a break down and worrying about their unrealized gains.
I don't think traditional markets are going to dump into oblivion tomorrow either, so maybe this plays out.
The market has to go down to go up. This is a good R/R for longs. Shorts are just hoping for a break down and worrying about their unrealized gains.
I don't think traditional markets are going to dump into oblivion tomorrow either, so maybe this plays out.
Trade closed: target reached