TOTAL3 Outlook Turns Bearish! Are We Repeating June 2021?
In my previous analysis, I thought we would see a continuation to the upside after the retest, but we took a big L! Not every idea is a winner, and it’s part of trading. Now we move on to the next idea.
The price action last week created a huge rejection from the neckline of the M pattern. This is exactly what happened in June 2021. History often rhymes, so I'm expecting a similar bottoming scenario and plan to fish for the wicking bottom. At this moment, I'm looking at a $440B-$500B valuation on TOTAL3 as a possible bottoming zone. We'll see how the price action develops further and aim for our entry.
The price action last week created a huge rejection from the neckline of the M pattern. This is exactly what happened in June 2021. History often rhymes, so I'm expecting a similar bottoming scenario and plan to fish for the wicking bottom. At this moment, I'm looking at a $440B-$500B valuation on TOTAL3 as a possible bottoming zone. We'll see how the price action develops further and aim for our entry.
Note
Congrats to those who bought at the bottom with me. TOTAL3 bounced exactly from our zone at a $ 472B valuation and is now sitting at $ 520B. I'm looking to take some profits from alts soon and wait for further developments.
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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.
Join my VIP group: t.me/CryptoOverseerX Special price for the first 10 members. Money-back guarantee if no profit in 3 months! For more, visit overseer-x.com/. Free group: t.me/CryptoOverseerXFree
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.