IREN LimitedLong
IREN a fresh review
IREN has been moving upwards swiftly due to BTC 100k
Now we take a fresh look at IREN
it formed a double top which is a bearish sign and hence I took profit out of IREN at the double top high that is around 15$ area
So far its respecting the 50 day MA very nicely but there is a also an amazing cup formation which is leading me to think about it long term and therefore I would only now recommend entries after the 16$ barrier is breached.
As of now the latest strong support is 13.60 area . and if it goes further down then get ready for a support at 9$
Technically I wouldn't recommend buying anything which is in a bear tren therefore I would only recommend buying at a breakout of 16$
Entry when a daily candle close above 16$
Stop loss would be 13$
Now we take a fresh look at IREN
it formed a double top which is a bearish sign and hence I took profit out of IREN at the double top high that is around 15$ area
So far its respecting the 50 day MA very nicely but there is a also an amazing cup formation which is leading me to think about it long term and therefore I would only now recommend entries after the 16$ barrier is breached.
As of now the latest strong support is 13.60 area . and if it goes further down then get ready for a support at 9$
Technically I wouldn't recommend buying anything which is in a bear tren therefore I would only recommend buying at a breakout of 16$
Entry when a daily candle close above 16$
Stop loss would be 13$
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.
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.