TEL short term to $0.0057 resistance⚡️ NYSE:TEL broke out of the Flag pattern, snatched up the liquidity and broke through multiple short-term resistances between $0.0044 to $0.0052. Finding resistance at $0.0053.
⚡️It is currently retracing down to the 0.382 fib level and the $0.005 psychological resistance that has now become support.
⚡️ NYSE:TEL momentum has increased/sped up as seen by it moving faster than the recent blue bars pattern. I mentioned this in a post two days ago.
TEL Short Term Bull Scenario
🟢$0.0053 is the current key short-term resistance
🟢$0.0057 represents the full repeat of the September 12th 2024 pump that this has appeared to be copying.
🟢🟢The previous rally before the flag was 26% bottom to top. We have room left to get to that before another 10% retracement. We should easily go to $0.0055-$0.0057 from here.
TEL Short Term Bear Scenario
🔴Retrace to around the $0.0048 which is the 0.5 fib retracement, a psychological level and also matches the recent flag pull-back size of 9.5%. There is a bunch of liquidity built up between $0.0047 and $0.0045 but I think that is just risk management at this point.
Liquidation Levels
NYSE:TEL Liquidation Heatmap - It will be interesting to watch the Liquidation Heatmap over the next few hours, as we should see new liquidity appear above the current price.
CRYPTOCAP:BTC has futures liquidity built up at $116k this normally suggests a downward move. I think the Macro factors are too strong for that. But we need time to see the charts print more volume above current price. CRYPTOCAP:BTC is building up liquidity at $123k too but it is less dense.
My thinking is we catch a breather and trade sideways here to solidify this level. Then break through local highs, BTC to break through the $120k psychological level and head up to $123k liquidity then retrace. Which would line up with NYSE:TEL hitting resistance at $0.0057.
