Market Analysis - 2nd Jan 2021

DISCLAIMER: Content within this thread is intended for educational purposes only, and purely a result of personal research and experience of individuals that are not registered or licensed brokers. Methodologies and techniques presented within the entirety of this thread are subject to inaccuracy and variability of result. It is advised that you do your own research and verify any information and/or assertions your find in this thread with a professional financial adviser. Past performance is not indicative of future results, the following material hereafter is not any substitute for professional advice. All authors of any material within this thread bare no liability whatsoever for any loss or damage you may incur."

After a major retracement, we had an expansion to a key reversal and psychological zone $5.00-$7.00

First attempt to break higher failed therefore leading to 3 Month Accumulation in $3.00 - $5.00 range.

The next expansion retest resistance and failed to break with 150% gain on that price leg.

This then lead to another accumulation zone where $3.00 was a support zone before expansion to break $6.00 -$7.00 resistance.

Currently we are experiencing a normal correction, Iā€™m expecting anywhere between a 25% -35% correction with Mahax staking around the corner and price crossing the 200 EMA confirming Bullishness
The next price leg up we can see an implosive move to the upside to test $15-$17 range.

4 Likes