$SUB Bottomed out? - 1D Looks primed
SUB has reached the same low as it did before the April 17' mini-alt rally and is showing Bullish Divergence on the CMF 1D.
This also could be looked at as a double bottom for a possible reversal on the coin as well.
If it breaks this support line, there will likely be up to a 50% drop before it hits the next level of support around 1900 Sats. Stop-losses should be applied in case support breaks.
Conservative traders should wait for a confirmed reversal in the down trend before committing to a trade.
As always, this is pending BTC price action and if BTC makes any major drops or rallies, price action may suffer.
This also could be looked at as a double bottom for a possible reversal on the coin as well.
If it breaks this support line, there will likely be up to a 50% drop before it hits the next level of support around 1900 Sats. Stop-losses should be applied in case support breaks.
Conservative traders should wait for a confirmed reversal in the down trend before committing to a trade.
As always, this is pending BTC price action and if BTC makes any major drops or rallies, price action may suffer.
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.