HYPE is good for the short-term long-position at this moment, as it could go as far as 40 from 34.18 to form a Second shoulder.
But it will not sustain over there, and will come down to 22.
There could be another possibility that it may come between 28-29 and form shoulder 2, and then come back to 22.
I will only enter a long position when it takes support from 28 or 22.
Future traders may see short opportunities near 40-41. You will have to wait for price rejection at 40-41.
If it fails these 2 support areas, then I will look for 15-16.
But it will not sustain over there, and will come down to 22.
There could be another possibility that it may come between 28-29 and form shoulder 2, and then come back to 22.
I will only enter a long position when it takes support from 28 or 22.
Future traders may see short opportunities near 40-41. You will have to wait for price rejection at 40-41.
If it fails these 2 support areas, then I will look for 15-16.
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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.
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.