Project Galaxy (GAL) yesterday produced a candle with a long upper wick. This candle ended lower compared to the wick high but closed daily above EMA50 (highest volume since April).
This is a strong signal. There is more than one way to read this.
Conventional thinking would say the bulls tried to push prices higher and were rejected, this is one way to look at it, while it is true it is not the correct view as it has a bearish tone. The truth is that resistance is being removed, the path is being prepared for massive growth.
So yesterday GALUSDT removed many sell orders and is set to grow higher in the days and weeks ahead. With resistance out of the way, it can produce slow and steady growth, until a new burst takes place.
We will be seeing hundreds and hundreds of charts with similar signals but not the same; literally hundreds, because we can publish 10 charts everyday.
Thanks a lot for your continued support. You can use these charts for your own learning, entertainment or to trade.
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