Short
TOMO correction?
Mis à jour
TOMO is among the cryptos that has performed very well this year, with 600% up. The trendline (in 1D TF) since March 2023 still holds.
However, TOMO has shown some signs of weakness when its price has been rejected by the local high around $1.7
I see that a distribution (following Wyckoff method) is possible on going.
As a reason, a proposed set-up is as in chart.
This crypto is highly volatile and the whole market is as well. Take care and don't forget risk management.
Note
Here is a bigger view on 1D TFNote
I closed this trade. TOMO didn't get weak as expected.BTC is a important support and bouncing.
Transaction en cours
Trade reactivated at the same entry.BTC retested the EMA50D (26800) and still consolidates below this strong support.
Note
TOMO has been down 14% since entry. The trendline (1D) was broken. Here below are references (based on Fibonacci) for taking profit.Note
+24% from entryTP1 done.
Trade fermée manuellement
BTC broke out its falling wedge (channel)
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