A month ago (November 13, see chart below), we gave a strong Sell Signal on Hyperliquid (HYPEUSD) after the Head and Shoulders (H&S) pattern turned into an obvious Channel Down, which easily hit our $30.00 Target:
Now we see some short-term relief before the next, larger drop as not only did the price make contact with the bottom (Lower Low trend-line) of the Channel Down, but also the 1D RSI is displaying the same kind of bottoming sequence it did on October 17.
Even though the resulting rebound/ Bullish Leg rose by +50.50%, even breaking above the 0.618 Fibonacci retracement level, this time the move might be limited by the 1D MA50 (blue trend-line) posing as a Resistance, even though the 1D MA100 (green trend-line) is the standard long-term one during Bear Cycles.
In any event, our 'modest' short-term Target for this bounce is $33.00.
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Now we see some short-term relief before the next, larger drop as not only did the price make contact with the bottom (Lower Low trend-line) of the Channel Down, but also the 1D RSI is displaying the same kind of bottoming sequence it did on October 17.
Even though the resulting rebound/ Bullish Leg rose by +50.50%, even breaking above the 0.618 Fibonacci retracement level, this time the move might be limited by the 1D MA50 (blue trend-line) posing as a Resistance, even though the 1D MA100 (green trend-line) is the standard long-term one during Bear Cycles.
In any event, our 'modest' short-term Target for this bounce is $33.00.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.