4HR Double Bottom with Bullish Divergence on a "Stable Coin"

18 May 2022

We have a Bullish setup here on this failure of a stable coin and while things look fundementally bad for it i still cant ignore the technicals. I come at this chart with the mindset of all the money i put in is basically like throwing cash in a pit of fire but it's a risk i'm willing to take on the off chance that this Double Bottom plays out. My stoploss is non existant here as there is no support; absent of this Double Bottom playing out and pivoting the UST back to near it's target it can only go to 0 and die from here.