๐ MOVR's Christmas Tree Is Starting to Come Down
The trunk grew taller first. Now the descent has begun.
Since our last post at $2.25:
Price cleared $2.45 and kept climbing all the way to $3.34, another 48%.
Then it printed a buying climax at the top, flipped structure lower near $2.75, and slid to $2.04.
About 39% off the peak at the low. Now $2.16.
For the record, both halves of last time's plan played out. Clearing $2.45 kept the trunk growing. Then price dipped under $2.10, the line we said would put the next shelf in play. ๐
If bulls have good news, it's this: today's $2.04 low landed almost exactly on the $2.03 swing low from yesterday's pullback. That level is holding, for now.
The bad news: every bounce since the top has been sold. The $2.80 to $2.94 zone is now supply, and the hourly chart is a clean staircase of lower highs.
The levels.
Hold $2.03 and MOVR can try to base here.
Lose it, and the $1.52 to $1.85 shelf, where the last leg up launched, is next.
Below that, the $1.00 to $1.13 base is where this whole tree was planted.
The catalyst is also behind us. The Base migration deadline passed on September 30, so from here price has to stand on demand alone.
Base at $2.03, or does the tree fall back to the shelf? ๐ฅ
Not financial advice.
$MOVR
$้พ่พ
$QNT
The trunk grew taller first. Now the descent has begun.
Since our last post at $2.25:
Price cleared $2.45 and kept climbing all the way to $3.34, another 48%.
Then it printed a buying climax at the top, flipped structure lower near $2.75, and slid to $2.04.
About 39% off the peak at the low. Now $2.16.
For the record, both halves of last time's plan played out. Clearing $2.45 kept the trunk growing. Then price dipped under $2.10, the line we said would put the next shelf in play. ๐
If bulls have good news, it's this: today's $2.04 low landed almost exactly on the $2.03 swing low from yesterday's pullback. That level is holding, for now.
The bad news: every bounce since the top has been sold. The $2.80 to $2.94 zone is now supply, and the hourly chart is a clean staircase of lower highs.
The levels.
Hold $2.03 and MOVR can try to base here.
Lose it, and the $1.52 to $1.85 shelf, where the last leg up launched, is next.
Below that, the $1.00 to $1.13 base is where this whole tree was planted.
The catalyst is also behind us. The Base migration deadline passed on September 30, so from here price has to stand on demand alone.
Base at $2.03, or does the tree fall back to the shelf? ๐ฅ
Not financial advice.
$MOVR
$้พ่พ
$QNT
