The skyrocket fails at the first Take Pofit zone which means that people have been skeptical about a huge upside movement and have placed take profit purchases in the light-red zone. The fail also shows that the amount bought was small and bulls were weak. The slump after the failed skyrocket says that there were more people selling which is insanely improbable or many people have drawn their money from the coin which is backed by the Volume chart which is quite low until the fall. If we trace back in history all big red candles of the volume chart we will see that they are followed by an upswing. On 4H chart there is an equilateral triangle and a very oversold RSI which is often a sign of a forthcoming bullish move. Thank you for the attention!
*DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSES ONLY*
SUCCESSFUL TRADING EVERYONE
*DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSES ONLY*
SUCCESSFUL TRADING EVERYONE