We can see here a nice double bottom formed and weve broken the horizontal holding sustained volume so an easy 30% teleport awaits. Drawing out fibs and key levels dating back to its inception i can conclude that $2.60 is a great euphoric level to take a good slice out. Euphoria and secret sauce indicators confirm my bias.
Note
Holding that previous high with lots of demand. We will meet with $0.68c and not nicely
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Market flushed and gave people on the sidelines entries. Highlighted in green is a Daily orderblock which is a logical place of support. Often times double bottoms revisit mid range before take off. ETHs jump brought things down with it but it only but more confidence in higher prices.
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This is currently deep down, and this is what bottoms are made of:
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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.