Panjang
CATS confluence of support
After quadrupling in price, CATS has pulled back to a confluence of support: breakout trendline, .618 retracement level, 200 day EMA
The breakout trendline formed over the course of approx. 1 year, was tested 4 times as resistance prior to the breakout and was tested 3 times during the consolidation period between May and June.
I'd enter a trade on any dip from here given the up-curling 20 and 50 EMAs, I expect the 20 EMA to push prices higher and given the initial move off the lows and deep pullback that followed, I anticipate the next move could be a face ripper. Specifically, I'd look for any broader market weakness to knock price down to the 50% retracement where I would look for support and entry.
The breakout trendline formed over the course of approx. 1 year, was tested 4 times as resistance prior to the breakout and was tested 3 times during the consolidation period between May and June.
I'd enter a trade on any dip from here given the up-curling 20 and 50 EMAs, I expect the 20 EMA to push prices higher and given the initial move off the lows and deep pullback that followed, I anticipate the next move could be a face ripper. Specifically, I'd look for any broader market weakness to knock price down to the 50% retracement where I would look for support and entry.
Nota
Two consecutive days showing support off of the .5, long wicks are a sign of strong support
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.