TOMO is among the cryptos that has performed very well this year, with 600% up. The trendline (in 1D TF) since March 2023 still holds.
However, TOMO has shown some signs of weakness when its price has been rejected by the local high around $1.7
I see that a distribution (following Wyckoff method) is possible on going.
As a reason, a proposed set-up is as in chart.
This crypto is highly volatile and the whole market is as well. Take care and don't forget risk management.
Commento:
Here is a bigger view on 1D TF
Commento:
I closed this trade. TOMO didn't get weak as expected.
BTC is a important support and bouncing.
BTC is a important support and bouncing.
Trade attivo:
Trade reactivated at the same entry.
BTC retested the EMA50D (26800) and still consolidates below this strong support.
BTC retested the EMA50D (26800) and still consolidates below this strong support.
Commento:
TOMO has been down 14% since entry. The trendline (1D) was broken. Here below are references (based on Fibonacci) for taking profit.
Commento:
+24% from entry
TP1 done.
TP1 done.
Trade chiuso manualmente:
BTC broke out its falling wedge (channel)
