Eyes on the purple line.

I'm showing this cart on the weekly time frame to explain what it is visually. Most of the things you already know about "support" and "resistance" apply. On the 4 hour chart the price has also found support on the SMA line. Crossing the purple line is bullish. The question is, will it 2x? 3? 30x?

cheers.

評論:

The 4 hour and daily RSI are above 50. Heaviest resistance is at about $6. If we cross the purple line and the SMA calmly then the spring will be loaded.

評論:

But will the upward movement be enough to break out past $6? Next resistance is $17.4 and after that is $27. There is a lot of room to move. It won't take a huge spike in volume to get started. If it were to reach these higher prices that I mentioned it would be pure FOMO.