TOMOUSDT Short Opportunity
TOMO/USDT has been one of the biggest gainers in the past few weeks during the crypto bear market
I believe the price is highly inflated, and is showing signs of breaking down
These indications are mostly influenced by the large dips BTC/USDT has made so i do expect to see TOMO/USDT test resistance again at roughly 2.77-2.80
If it breaks past this level, it will be going to the next stop, at 3.00, although 2.77-2.80 is very strong
And the fact that BTC/USDT has built a fairly strong resistance at 32000.00 with support being at 31000.00, i am expecting BTC/USDT to break past its support level and head to 28-29k which would influence TOMO/USDT's bearish reversal further
I am far from an expert, and am simply doing this to be able to look back and see what i got right/wrong, so please understand that if you do decide to trade this
And any feedback would be appreciated
Thanks
I believe the price is highly inflated, and is showing signs of breaking down
These indications are mostly influenced by the large dips BTC/USDT has made so i do expect to see TOMO/USDT test resistance again at roughly 2.77-2.80
If it breaks past this level, it will be going to the next stop, at 3.00, although 2.77-2.80 is very strong
And the fact that BTC/USDT has built a fairly strong resistance at 32000.00 with support being at 31000.00, i am expecting BTC/USDT to break past its support level and head to 28-29k which would influence TOMO/USDT's bearish reversal further
I am far from an expert, and am simply doing this to be able to look back and see what i got right/wrong, so please understand that if you do decide to trade this
And any feedback would be appreciated
Thanks
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