$SOPH dumped exactly through the level we were watching yesterday ๐
Yesterday I said $SOPH needed to hold the $0.0055โ$0.0058 area. If that support broke, I was watching $0.00328 next.
Well... $SOPH is now around $0.0041.
That support didn't hold as Told in comments & now the downside move played out pretty much the way we were watching for. This is also why I don't like forcing a bounce just because a coin has already dumped hard.
Now I'm watching the $0.0040 area. If buyers finally step in and build a base here, we could get a relief move back toward $0.0055. But if $0.0040 keeps getting rejected as support, $0.00328 is still the level I'd keep on the radar.
The short idea is done. Now I'm looking for the next setup.
Did you catch the breakdown or are you waiting for SOPH to give another entry? ๐
Follow CoinQuest for the next move....
Yesterday I said $SOPH needed to hold the $0.0055โ$0.0058 area. If that support broke, I was watching $0.00328 next.
Well... $SOPH is now around $0.0041.
That support didn't hold as Told in comments & now the downside move played out pretty much the way we were watching for. This is also why I don't like forcing a bounce just because a coin has already dumped hard.
Now I'm watching the $0.0040 area. If buyers finally step in and build a base here, we could get a relief move back toward $0.0055. But if $0.0040 keeps getting rejected as support, $0.00328 is still the level I'd keep on the radar.
The short idea is done. Now I'm looking for the next setup.
Did you catch the breakdown or are you waiting for SOPH to give another entry? ๐
Follow CoinQuest for the next move....
