I won’t bore you with statistics or fundamentals. I’m a momentum trader — I read the tape, price action and pattern recognition.
Great PR today, on top of another good PR 5 days ago.
It ran to 0.2145 then pulled back and reversed at 0.181. Then they pushed it up to 0.2185. After that it pulled back and spent most of later AH chopping around 0.195–0.205.
In my eyes they have been repeatedly retrapping bears around these levels. The key point for me is 0.18. That’s where the major reversal happened, and so far it’s holding.
Now we’re seeing heavy selling overnight, but 0.18 is still holding for now. I actually like seeing the volume and the fight at that levels, it gives more information about how the tape reacts.
I’m in at 0.181, and I think we could see strong continuation tomorrow if 0.18 continues to hold and the selling fails to produce a sustained breakdown.
This is my personal thesis, not investment advice. Do your own DD.