$CYBL This wedge is breaking in the wrong direction for the bulls and the price is falling below the lower bollinger band. 11 red candles in a row shows selling pressure throughout the day. If this turns red on high volume the rug is going to get pulled out. The consolidation is coming to an end and the chart is now bearish. First alert is set at .0267.
@TheExecutive Ah I see what your saying. Appreciate your posts and learn from them. If this red candle today finishes bigger than the previous one (more selling volume) we can go lower to 253 like the low point in october...
@Torino71 The important thing in my eyes is it broke its trading pattern and is no longer predictable. The bollinger bands are now widening but the price is following the lower one (light blue line) and the RSI, SS, MACD are all turning bearish as well. If you zoom out to the weekly its fairly bearish and the daily chart is showing further downward pressure. The 61.8% retrace is at .0259 but my alert is set for higher than that. This broke the 50% retrace line yesterday. See below.
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