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So, happy birthday to me 😊
And here is the analysis for the evening of the #SOLV project
Can a pump signal be considered a buy signal and an indication to open long positions or is it a false move?
1. First, let's consider the ( weekly timeframe ) from March 29 to April 2 with a price range of 0.002902 - 0.009367.
Key zones for reversal or trend confirmation ( are marked in blue ):
Long position = breakout + consolidation above the 0.005407 level
Short position = retest without breaking below 0.005135 or without touching, with a continuation of the downward trend.
2. Let's analyze the daily timeframe or the "in-the-moment" situation
Consolidation of the current price state "as is," i.e., above 0.004860 = a retest of 0.005135, the weekly timeframe's short imbalance
If we do not hold, we may enter accumulation in the range down to 0.004164, and if broken, we will continue the downward trend.