$BULLA
STRATEGY $BULLA
Action: SELL (SHORT)
Entry: 0.0110 - 0.0115 USDT
Stop Loss: 0.0125 USDT
Take Profit 1: 0.0100 USDT
Take Profit 2: 0.0095 USDT (MA99)
Take Profit 3: 0.0085 USDT
EXPLANATION
BULLA rose +59.89% in 24h until reaching 0.01236, but since then BULLA has failed to break and started to show weakness. The current price of BULLA at 0.01115 is just above its MA(7) at 0.01106 and MA(25) at 0.01090, but the key data is in the volume: BULLA has a current volume of 14.25M, far below its MA(5) of 40.57M and MA(10) of 51.82M. This means that the rise of BULLA is not backed by buyers. The RSI of BULLA are all in 53-54, neutral zone but without bullish momentum. Furthermore, BULLA has come from -60% in 90 days and -75% in 180 days, suggesting that this rally is just a technical bounce within a larger downtrend. For all these reasons, BULLA is sold in this area.
Should we sell BULLA now or can it still go up?
In favor of SELLING: The volume of BULLA dropped 65% compared to its averages. BULLA has already been rejected at 0.01236. Without volume, BULLA cannot sustain prices.
In favor of BUYING/WAITING: BULLA remains above MA(7) and MA(25). Its RSI at 53 indicates that BULLA is not overbought and could continue rising if new volume comes in.
My forecast for BULLA: BEARISH. The volume of BULLA is king, and the king is dead. BULLA is going to correct to 0.0100 and then to 0.0095. If BULLA loses 0.0095, it will go to 0.0085.
STRATEGY $BULLA
Action: SELL (SHORT)
Entry: 0.0110 - 0.0115 USDT
Stop Loss: 0.0125 USDT
Take Profit 1: 0.0100 USDT
Take Profit 2: 0.0095 USDT (MA99)
Take Profit 3: 0.0085 USDT
EXPLANATION
BULLA rose +59.89% in 24h until reaching 0.01236, but since then BULLA has failed to break and started to show weakness. The current price of BULLA at 0.01115 is just above its MA(7) at 0.01106 and MA(25) at 0.01090, but the key data is in the volume: BULLA has a current volume of 14.25M, far below its MA(5) of 40.57M and MA(10) of 51.82M. This means that the rise of BULLA is not backed by buyers. The RSI of BULLA are all in 53-54, neutral zone but without bullish momentum. Furthermore, BULLA has come from -60% in 90 days and -75% in 180 days, suggesting that this rally is just a technical bounce within a larger downtrend. For all these reasons, BULLA is sold in this area.
Should we sell BULLA now or can it still go up?
In favor of SELLING: The volume of BULLA dropped 65% compared to its averages. BULLA has already been rejected at 0.01236. Without volume, BULLA cannot sustain prices.
In favor of BUYING/WAITING: BULLA remains above MA(7) and MA(25). Its RSI at 53 indicates that BULLA is not overbought and could continue rising if new volume comes in.
My forecast for BULLA: BEARISH. The volume of BULLA is king, and the king is dead. BULLA is going to correct to 0.0100 and then to 0.0095. If BULLA loses 0.0095, it will go to 0.0085.