FLOW Bear blocking
BINANCE:FLOWUSDT is lingering in a Bear block (overbought) arbitrarily ranging between 3.14 and 2.97.
Daily metrics are a bit of a mixed bunch, Volume % change had a noticeable drop off. I wouldn't recommend using something as simple as RSI on FLOW, too shifty.
As I'm writing this, 1H candle is a real battle between Bulls and Bears.
It is important to be aware of how easy FLOW moves, +44.75% gain on a recent 4H candle, multiple examples of +10% on tiny volume are easily spotted on a FLOW chart.
My plan before deciding on a Long or Short FLOW trade, if any trade at all, I'll set an Alert for price crossing 2.92 and observe:
2 FLOW Setups
Long FLOW - 2.92 is tested and rejected twice, Long target 3.61
Short FLOW - price breaks below 2.92 on a second rejection, retests 2.92 and fails, Short target 2.50
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
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