HERO possibility of being gown down first
Updated
TLDR: Down before up
Right now HERO is clearing the resistance line coming from its ATH.
This is triggering the bullish run that it's had past week.
Looking at the RSI, it's oversold, and BTC along with all other Alts are declining in price. HERO has very little volume to support the continuation of the bullish trend.
Even if it does, it needs to come down again for buyers to feel interested. Thus, I have labelled two zones where it could find resistance, and support.
Right now, it's not the best time to open any position because its not showing any clear pattern. (there is a possible cup and handle, but not very clear and it has weak volume)
Thus, please wait a little longer until a clear picture is formed.
Normally these low volume alts are good when BTC starts pumping. However, there is no harm in investing a few dollars in these coins every month, something like the price of a coffee.
Right now HERO is clearing the resistance line coming from its ATH.
This is triggering the bullish run that it's had past week.
Looking at the RSI, it's oversold, and BTC along with all other Alts are declining in price. HERO has very little volume to support the continuation of the bullish trend.
Even if it does, it needs to come down again for buyers to feel interested. Thus, I have labelled two zones where it could find resistance, and support.
Right now, it's not the best time to open any position because its not showing any clear pattern. (there is a possible cup and handle, but not very clear and it has weak volume)
Thus, please wait a little longer until a clear picture is formed.
Normally these low volume alts are good when BTC starts pumping. However, there is no harm in investing a few dollars in these coins every month, something like the price of a coffee.
Note
Support now at 0.003. I am expecting it to touch that soon
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.