$STX: Anticipated Breakout; Divergence Signals, and Fib zones
- On the daily, the RSI is within a symmetrical triangle, indicating an anticipated breakout by May 11.
- It would be ideal if STX closes the daily candle above $0.82 today, as it aligns with my previous Fibonacci expectations, as indicated on my TradingView chart (link: tradingview.com/char...nity-for-STX-Stacks/).
- My divergence indicator shows a divergence based on the commodity channel index and identified support zones.
Being transparent, I cannot provide a clear guideline at the moment. While I lean towards quick upward price movement, there are multiple factors at play, and a broader perspective is needed. It all depends on the king (referring to Bitcoin), which is currently experiencing resistance at 30.4k and has corrected to the baseline of the Bollinger Bands. If it can establish a baseline there and continue its upward momentum to
36K
, we might see a bottom forming soon and some quick price developments.
