$SOXLB still bleeding bro 😅
Yesterday I said 93 was the spot to watch for this chip token. It lost it, flushed down to 78 overnight, bounced to 87 and now fading again around 82.8. Down almost 10% on the day.
Remember this tracks a 3x semis ETF so it moves way harder than the stocks themselves. Chart is lower highs since early Oct, way under both 4H EMAs (91 and 98).
For me 78 is the line now. Close a 4H candle under that and I wouldn't be surprised by low 70s. Back over 87.8 and then 91 and I start thinking the bottom is in.
Anyone catching this knife or just watching?
not advice, leverage tokens cut both ways
#SOXLB #BinanceStocks #Write2Earn
Yesterday I said 93 was the spot to watch for this chip token. It lost it, flushed down to 78 overnight, bounced to 87 and now fading again around 82.8. Down almost 10% on the day.
Remember this tracks a 3x semis ETF so it moves way harder than the stocks themselves. Chart is lower highs since early Oct, way under both 4H EMAs (91 and 98).
For me 78 is the line now. Close a 4H candle under that and I wouldn't be surprised by low 70s. Back over 87.8 and then 91 and I start thinking the bottom is in.
Anyone catching this knife or just watching?
not advice, leverage tokens cut both ways
#SOXLB #BinanceStocks #Write2Earn