Hello,
So I've been hearing of a lot of excitement from people buying back on the dip but I wanted to give my own analysis and say why you should be careful
-We've seen NIO now bounce back from around that $40 area but I believe it's coming up on an important area
-It has just crossed over the 20MA on the 1hour but it is slowing down with smaller and smaller wicks
-Yet to cross the 200MA which would be important
-And the short downward trend from its previous ATH
Tread carefully, I've seen a lot of brand new traders get sucked into the excitement buying on this bounce but I believe the safer trade is yet to be secured
Feel free to leave feedback, thanks
So I've been hearing of a lot of excitement from people buying back on the dip but I wanted to give my own analysis and say why you should be careful
-We've seen NIO now bounce back from around that $40 area but I believe it's coming up on an important area
-It has just crossed over the 20MA on the 1hour but it is slowing down with smaller and smaller wicks
-Yet to cross the 200MA which would be important
-And the short downward trend from its previous ATH
Tread carefully, I've seen a lot of brand new traders get sucked into the excitement buying on this bounce but I believe the safer trade is yet to be secured
Feel free to leave feedback, thanks
Comment:
I guess whoever bought in when I posted this is going to have to hold now