There are many types of candles. In the previous 4H chart, a bullish hammer formed at the support level between 06h00 and 10h00 (GMT+2). A similar candle formed on May 6, 2021 at 18h00-22h00 (GMT+2). According to dailyfx, "The hammer candlestick appears at the bottom of a down trend and signals a bullish reversal. The hammer candle has a small body, little to no upper wick, and a long lower wick - resembling a ‘hammer’. The pattern indicates that the price dropped to new lows, but subsequent buying pressure forced the price to close higher, hinting at a potential reversal. The extended lower wick is indicative of the rejection of lower prices."
While the current candle which began at 10h00 (GMT+2) seems bearish, there are signs that the bulls remain resolute following the Nebraska vote. The current downward trend seems to be a response to $Bitcoin rather than a response to $TEL. I maintain that literally, $TEL is on sale because the likelihood of a bull run remains very high. $TEL will either wait for the rest of the market to reverse northwards, or it will breakout of the current $Bitcoin trend and return to the moon where it belongs.
Whatever happens, the fundamentals on $TEL are just too good for one to walk away.
While the current candle which began at 10h00 (GMT+2) seems bearish, there are signs that the bulls remain resolute following the Nebraska vote. The current downward trend seems to be a response to $Bitcoin rather than a response to $TEL. I maintain that literally, $TEL is on sale because the likelihood of a bull run remains very high. $TEL will either wait for the rest of the market to reverse northwards, or it will breakout of the current $Bitcoin trend and return to the moon where it belongs.
Whatever happens, the fundamentals on $TEL are just too good for one to walk away.
