Hypecoin been non correlating with btc more so than other altcoins, pumping while btc is dumping and doing its own thing. Though It seems to be quite high structurally on the weekly timeframe and likely to continue dumping some more to the down side around $28.5 prior monthly resistance for a retest. There I anticipate enough demand might come in to drive the price back up.
I hopped in around $32.79 area in anticipation that the current 4hr candle will wick back down. It has pushed up a bit more than anticipated quite quickly since entry which isn't particularly good but still have 1hr before 4hr candle close- Next hr will decide if we really going down or the move will get delayed and invalidated soon.
If you're just seeing this you have better entry and can use better invalidation with stop around $34.8 for a more conservative position.
On personal account my stop is at $34.62 area
On another its at $34.2
Time sensitive
I hopped in around $32.79 area in anticipation that the current 4hr candle will wick back down. It has pushed up a bit more than anticipated quite quickly since entry which isn't particularly good but still have 1hr before 4hr candle close- Next hr will decide if we really going down or the move will get delayed and invalidated soon.
If you're just seeing this you have better entry and can use better invalidation with stop around $34.8 for a more conservative position.
On personal account my stop is at $34.62 area
On another its at $34.2
Time sensitive
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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.