On the above 4 day chart price action has corrected over 90% since 2021 without the aid of share splits. A number of reasons now exist to consider a bullish outlook.
1) Price action and RSI resistance breakouts.
2) Money flow index trend reversal (not shown here)
3) Short Interest 24.47%
Who remains short after a 90% correction?
Gamestop had a similar short interest of 28% back in the day of early 2021 before it got squeezed.
4) No share splits since the downtrend. True.
5) The bull flag breakout forecasts a 160% move to $9
Is it possible price action continues downtrend? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <= 6%
Timeframe for long: This month
Return: 150%
1) Price action and RSI resistance breakouts.
2) Money flow index trend reversal (not shown here)
3) Short Interest 24.47%
Who remains short after a 90% correction?
Gamestop had a similar short interest of 28% back in the day of early 2021 before it got squeezed.
4) No share splits since the downtrend. True.
5) The bull flag breakout forecasts a 160% move to $9
Is it possible price action continues downtrend? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <= 6%
Timeframe for long: This month
Return: 150%
Trade active
Past resistance confirms support.Trade closed: stop reached
As quick as support was confirmed price action broke below. Rules are rules, stopped out.Trade active
Past resistance confirms support.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.