For those of you who keep saying that the range has broken, please kindly take a glance at my chart. This range was never broken. The asset has dipped very low into the pocket and will likely produce a massive wick. VARA is in a situation where the range is descending ever so slightly into a bullish squeeze which consolidates horizontally over the long term. All we can do is continue to trade this range and as new levels arise record them and trade. This range that we are trading is very different from the ascending range that followed the open of this asset on Coinbase a year and a half ago. Plus there is capitulation thanks to the Trump tariffs which degraded CAD and MXN currency value pushing the dollar upward. If you look at USDX and DXY US dollar currency you will find that price action on that chart has landed up against resistance. While more gains could very well occur a pull back is possible too since both Canada and Mexico are speaking of retaliatory tariffs.
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That pocket IS a pivot point, VARA price action simply landed in it way sooner than anyone anticipated. NO ONE could have predicted that DXY would have opened up Sunday night with a huge CME gap (you really need to watch the DXY charts closely if you don't already)
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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.