I think .38 fib at about $14.88, is where we should see market structure (with confirmation) form if this is a bull.If you trade , keep an eye out for inverted empires or railroads, hammers too. It’s also an area where me may see failed retest and a continuation down putting in a confirmed . Possible railroads or falling star candle patterns.
On the up side, if it picks up momentum and looks favorable I’m seeing not much resistant North. Could see potential profit taking areas in mid-high twenties to mid thirties, where I suspect big players who are accumulating during these dips would start selling back to the retail public.
I love BAND. I have a bag. I think it’s extremely undervalued. Love the low circulating supply. Awesome dev team. Big name VC firms behind it, and really Chainlink’s only serious competitor in the space for the moment. Important to say, I really try hard not to trade my opinions or to make predictions.
I will share my take on the internal indicators of market strength below in another chart.
I’ve numbered my chart to take you chronologically through my thinking when looking at assets.
BTW, I’m a beginning trader/technical and fundamental analyst. Received my education and training from The Rational Investor ( TRi ) school for trader development. I welcome comments and differing opinions, please share. Happy Trading!
*This is not trade or financial advice. DYOR