So #Plasma ($XPL currently has marketcap of $2.95B) did invalidate the DOUBLE TOP I was talking about a few hours ago when I posted the 15-MIN analysis.
It's still looking VERY weak after making ATH of $1.67, though.
We are looking at a bearish pattern called RISING WEDGE, which means that the recent HIGH was very weak, potentially ending WAVE 3. And the RSI divergence gives me a lot of confidence about this thesis. The momentum is weak now.
If so, we should look for a LONG from much lower prices.
Two options: enter between $1.40 and $1.45 due to established support (previous resistance) and projected end of WAVE 4 correction.
Or wait for a crash/liquidity hunt (most of the longs would liquidate around the $1.10 mark) and position between $1 and $1.1.
This is a great project with a lot of hype and potential, marketcap wise it could easily do a few X. Buying levels matter in this game, so prepare the positions if you believe in the project's future.
I do. 💙👽
It's still looking VERY weak after making ATH of $1.67, though.
We are looking at a bearish pattern called RISING WEDGE, which means that the recent HIGH was very weak, potentially ending WAVE 3. And the RSI divergence gives me a lot of confidence about this thesis. The momentum is weak now.
If so, we should look for a LONG from much lower prices.
Two options: enter between $1.40 and $1.45 due to established support (previous resistance) and projected end of WAVE 4 correction.
Or wait for a crash/liquidity hunt (most of the longs would liquidate around the $1.10 mark) and position between $1 and $1.1.
This is a great project with a lot of hype and potential, marketcap wise it could easily do a few X. Buying levels matter in this game, so prepare the positions if you believe in the project's future.
I do. 💙👽
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XPL
0.9218
-12.77%