Well Hello There…
Here is the Technical Analysis for Substratum (SUB)
Summary :
- SUB is forming a “Bowl Formation” (Between 22000 - 9000)
- If 22000 is passed upwards the price may target 35000
- Stop Loss is 9000 (The bottom of the Bowl Formation)
- If 11000 is passed upwards sun will rise…First the price will target 22000 and then the Long Term target (big bowl formation target) will be 35000. If 9000 is passed downwards the above scenario will be aborted.
Detailed Overview:
- SUB is moving in an “upward” trend, between short term Moving Average (EMA-50) and long term Moving Average (EMA-50) Short Term Moving average is around 11000 and long term moving average is around 9000
SUB is forming a “bowl formation” between 22000 - 9000. The height of the Big bowl is shown with “h” (22000 - 9000 =13000)
11000 (Short term moving average) is the critical level. Once the price pass 11000 upwards, first It will aim to complete “bowl formation” at 22000. Laer on when 22000 is passed upwards, the price will target (minimum) the height of the bowl. (22000 +13000 =35000)
- Stop Loss is 9000 (Bowl formation support line & Long term moving average)
Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving averages It represents an “Downward” Trend.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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