DESCRIPTION: In the chart above I have provided a macro analysis update for my previous prediction for NIO.
POINTS: 1. Adjusted pockets for SUPPLY & DEMAND: 1ST LEVEL = $14 - $24 & 2ND LEVEL = $33 - $43. 2. SUPPLY & DEMAND POCKETS do in fact show a common deviation of 10 points of spread. 3. Current $9.50 is serving as CRITICAL SUPPORT that is broken would invalidate entire setup. 4. If we come to see a continuation of this sideways consolidation between $9.50 & $14 price action will begin to squeeze for bullish divergence. 5. More than covered gap from early July 2020.
Scenario #1: Bullish scenario can mean we see price action move into 1ST LEVEL SUPPLY & DEMAND ZONE as we invalidate bearish trend.
Scenario #2: Bearish scenario can mean we break below our critical support of $9.50 and fall to $6.00.
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