After being stuck in a tight range for four hours, with less than a 2% swing, one 15m candle finally smashed through 8.8120 and closed at 8.7850. 😶
$INJ 8 conditions, 6 green lights. The bullish confluence on the 1h/4h charts looks great, but the 1d moving averages are tangled up, and BTC/ETH are leaning bearish—that’s the storm cloud hanging overhead. 🫡
CCI is still underwater at -24.9, and the candle closed at the 25% level. Until those two red lights clear, I’m not jumping in, no matter how much confluence there is. Plan: stay out of the market and keep a close eye on 8.8120. I’ll only make a move if the next 15m candle gets back above it. The MACD histogram is positive at 0.00998, but that’s not exactly a convincing amount of momentum. 🔥
The multi-timeframe confluence is real, but confluence can point downward too. Do you think price will reverse sharply from here, or drop once more before rallying?
⚠️ Technical analysis is for reference only and does not constitute investment advice
#INJ $INJ
$INJ 8 conditions, 6 green lights. The bullish confluence on the 1h/4h charts looks great, but the 1d moving averages are tangled up, and BTC/ETH are leaning bearish—that’s the storm cloud hanging overhead. 🫡
CCI is still underwater at -24.9, and the candle closed at the 25% level. Until those two red lights clear, I’m not jumping in, no matter how much confluence there is. Plan: stay out of the market and keep a close eye on 8.8120. I’ll only make a move if the next 15m candle gets back above it. The MACD histogram is positive at 0.00998, but that’s not exactly a convincing amount of momentum. 🔥
The multi-timeframe confluence is real, but confluence can point downward too. Do you think price will reverse sharply from here, or drop once more before rallying?
⚠️ Technical analysis is for reference only and does not constitute investment advice
#INJ $INJ