Long
Possible Breakout on LOOM
It looks like LOOM has formed a small descending wedge on the 1H and may be breaking upwards. Volume has decreased over the last couple days as the wedge has descended toward the current support trendline, and buying pressure appears to be going up right now while selling pressure is settling down. As usual, we'll depend on BTC to keep steady in order for any of this to work out.
(Criticism is highly welcomed as I'm new to TA)
(Criticism is highly welcomed as I'm new to TA)
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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.