I am following INJ since it has been around 8$. It was so interesting for me because of the active bearish sequence with targets from around 3.50-2.25.
It is currently in this heavy weekly downtrend and the last best reshort opportunity has been when the 4 hr wolfpack was in the green, hitting the golden pocket around 6.50ish.
I would still like to see lower prices very locally. The 4 hr did confirm a bullish divergence on the last push to the upside, but the 12 hr and 16 hr just confirmed down (into the red again of wolfpack) and that technically confirms a bearish convergence on these timeframes due to a given bearish divergence that became confirmed before.
I will personally follow the downtrend on this one and am mainly looking for reshort opportunites. A drop to for example 3.50ish wouldn´t be the end for INJ, it would be just very healthy and imo necessary.
If we compare it to the active bearish sequence from BTC (which could lead BTC to 23-21k) then the whole picture makes a lot of sense to me.
Trend is your friend until the end. I will keep you updated on this one and we will see if the 12 hr / 16 hr bearish convergence can play out with strength.
It is currently in this heavy weekly downtrend and the last best reshort opportunity has been when the 4 hr wolfpack was in the green, hitting the golden pocket around 6.50ish.
I would still like to see lower prices very locally. The 4 hr did confirm a bullish divergence on the last push to the upside, but the 12 hr and 16 hr just confirmed down (into the red again of wolfpack) and that technically confirms a bearish convergence on these timeframes due to a given bearish divergence that became confirmed before.
I will personally follow the downtrend on this one and am mainly looking for reshort opportunites. A drop to for example 3.50ish wouldn´t be the end for INJ, it would be just very healthy and imo necessary.
If we compare it to the active bearish sequence from BTC (which could lead BTC to 23-21k) then the whole picture makes a lot of sense to me.
Trend is your friend until the end. I will keep you updated on this one and we will see if the 12 hr / 16 hr bearish convergence can play out with strength.
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.