This is our second attempt of breaking back into the channel this year. I believe price will fail this attempt and head much lower.
Hey ya'll! I'm going to start publishing by ideas more often for my own trading journal. I'll try to make these charts a bit prettier in the future, but for now these will be quick and dirty. FB long scalp idea for monday morning that could possibly build into a swing. The market could easily range from this sell off and I'd rather not be in a sideways position....
I think anyone involved in crypto remembers the DOGE pump last May. With that we saw a massive amount of poopcoins listed along side the DOGE pump. One of which was SHIB. Now we see something similar. SHIB absolutely yeeting with a slew of poop coins getting sympathy. A stand out I see is the CATGIRL coin. If things play out like they did last may we'll see this...
If we can push past this quickly look out for a large yeet to the 3.168 at 3608. If not we will consolidate down for the next leg up. Not a bad place to take profits if you're a short term scalper.
Daily RSI is at levels it hasn't seen since 2016. This obviously isn't especially bullish, but these oversold conditions sets this up for a great relief rally lotto. So far the pitchfork has been respected and the gap to 318 has been filled. The risk/reward seems too good to pass up.