Random Doodle for Boba
It just tagged its 1.618 fib extension completing a 1-2-3 setup 3 wave move to the upside, its going to try to rise above the 50 day sma (in gray) but it may retrace as it comes down before it jumps up above it like Bth, Eth, Sol, and all the other alts are doing at the moment with some offsets in time.
Aside from an ABC pullback, its setting up a larger 1-2 3 setup for a larger bullish move in about a week or so. Probably providing a good re-entry in the coming few days.
Once it gets above its 50D SMA it will be bullish as Boba and the rest of the market are setting up for larger upside moves. It will most likely do the retracement prior to time its main move up after the blue chips, cause they usually move first then the alts follow, but if it instead quickly gets above its 50D SMA it may just hold it and retrace above it then go up more.
Good Luck. God Bless! =)
Aside from an ABC pullback, its setting up a larger 1-2 3 setup for a larger bullish move in about a week or so. Probably providing a good re-entry in the coming few days.
Once it gets above its 50D SMA it will be bullish as Boba and the rest of the market are setting up for larger upside moves. It will most likely do the retracement prior to time its main move up after the blue chips, cause they usually move first then the alts follow, but if it instead quickly gets above its 50D SMA it may just hold it and retrace above it then go up more.
Good Luck. God Bless! =)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.