GALA / TetherUSLong
Gala is going to plummet!
Updated
This is a nail biting zone isn't it! especially if you are leveraged. So Gala has broken support at $0.34, so I am sure everyone's thinking 'that's it!! we're going down'. But are we really? I don't think we are... here's why? -
I give more weight to the higher time frames, but only looked at the 4 hour time frame just to see if I could see a direction on where the daily might go.
Personally, I think this is just another classic setup to encourage people to short, before the price reverses upwards liquidating the shorts.
Lets see how this goes, if anyone has any thoughts on this would love to hear them in the comments.
- Despite breaking support at $0.34, we haven't closed a daily yet (few more hours).
- The 4 hour time frame is actually showing bullish divergence.
- The Stochastic RSI on the daily and weekly are all in buy zones.
I give more weight to the higher time frames, but only looked at the 4 hour time frame just to see if I could see a direction on where the daily might go.
Personally, I think this is just another classic setup to encourage people to short, before the price reverses upwards liquidating the shorts.
Lets see how this goes, if anyone has any thoughts on this would love to hear them in the comments.
Note
This is just a theory, please don't trade off it. I am really not that qualified.Note
Excuse my typo '0.34' is meant to be '0.034'
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