Dear my friends,
Observe the 1-hour chart of Moondeng: after spectacular price breakouts, when hitting strong resistance on the daily timeframe, the price begins to correct. I checked the RSI, and indeed, there’s a strong divergence here. The RSI is almost absolutely overbought. I tried drawing Fibonacci levels to identify potential retracement points. I decided to wait for a buyback at the 0.98 and 0.86 zones. Let’s see if my prediction is as accurate as it was with Virtual.
Best Regards,
Observe the 1-hour chart of Moondeng: after spectacular price breakouts, when hitting strong resistance on the daily timeframe, the price begins to correct. I checked the RSI, and indeed, there’s a strong divergence here. The RSI is almost absolutely overbought. I tried drawing Fibonacci levels to identify potential retracement points. I decided to wait for a buyback at the 0.98 and 0.86 zones. Let’s see if my prediction is as accurate as it was with Virtual.
Best Regards,
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