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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.