Upon rebranding EDO ti PNT and listing on binance, I expect big drop from this resistance. A lot of confluence in this area and indicators signaling for a pullback, and posible trend reversal.
Chart on binance is only this double top you see here on bitfinex, so traders there cannot see a full picture, and will be caught in a trap. Don't be a buyer here, no matter what the fundamentals are.
1. Trendline broken, possible fakeout, this whole area acts as a resistance, not a single line.
2. Rsi bearish div.
3. Double top formation
4. Tweezers top x2 (candlestick formations, usually signaling for a trend reversal because price cannot go higher or a lower than those wicks)
5. 78.6 fib retracement
6. M market structure broken, but only with the candle wick. Sign of support weakness.
Chart on binance is only this double top you see here on bitfinex, so traders there cannot see a full picture, and will be caught in a trap. Don't be a buyer here, no matter what the fundamentals are.
1. Trendline broken, possible fakeout, this whole area acts as a resistance, not a single line.
2. Rsi bearish div.
3. Double top formation
4. Tweezers top x2 (candlestick formations, usually signaling for a trend reversal because price cannot go higher or a lower than those wicks)
5. 78.6 fib retracement
6. M market structure broken, but only with the candle wick. Sign of support weakness.