- Zoomed out view is starting to show rejection of mid BB, which means price is starting to move away from the median for this timeframe.
- Combine that with the ample supply and you have recipe for a disaster.
- positives are that price is holding 60 VMA for now. That could change though, as it is barely supporting currently.
- Not being a doomsayer, but one must be cautious at these levels. wait for tightening range before going too deep.
- Takeaway: I am long with a short leash.
Note
Posted Daily chart...here is the 3D chart for clarity
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.