SUI: Looks Good For A Mild Wave
The market moves in waves... Here we have a double-top. SUIUSDT.
Notice the trading volume as SUIUSDT peaked yesterday. Notice how clearly the green bars are smaller than the red bars. Notice how the highest green bar happened mid-August and then volume stats to drop. As the peak of the wave hits, bear volume increases.
We are likely looking at the end of this bullish wave. I'll be honest with you, I shared a short for this pair recently. While there can be some more action, one final hurray, the top is likely in.
We get a correction and this correction ends up in a higher low. When the low is in we go bullish again. This correction would match Bitcoin of course because the market moves as one.
From 5-August through 7-October we have more than two months green, 63 days. It is normal to see a retrace/correction after any type of bullish wave. Up and down, up and down...
It can be early of course, but this is it for this wave.
We simply wait for prices to move down and once the low is in, we start to buy again.
Namaste.
Notice the trading volume as SUIUSDT peaked yesterday. Notice how clearly the green bars are smaller than the red bars. Notice how the highest green bar happened mid-August and then volume stats to drop. As the peak of the wave hits, bear volume increases.
We are likely looking at the end of this bullish wave. I'll be honest with you, I shared a short for this pair recently. While there can be some more action, one final hurray, the top is likely in.
We get a correction and this correction ends up in a higher low. When the low is in we go bullish again. This correction would match Bitcoin of course because the market moves as one.
From 5-August through 7-October we have more than two months green, 63 days. It is normal to see a retrace/correction after any type of bullish wave. Up and down, up and down...
It can be early of course, but this is it for this wave.
We simply wait for prices to move down and once the low is in, we start to buy again.
Namaste.
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