💥Current Technical Analysis of CKB - April 13, 2024:
👉The candlestick for this week displays a Pinbar pattern, indicating significant fluctuation with a range of 35%.
👉Between April 8 and April 10, there was robust buying activity for CKB, driving the price from 0.0263 to 0.0379, marking an increase of nearly 31%.
👉Subsequently, from April 11 to April 12, there was substantial selling pressure on CKB, leading to a decline from 0.0379 to 0.0253, representing a decrease of nearly 33%.
👉As of the current time on April 13, CKB has experienced a notable recovery of 12% from its lowest point at 0.024450.
💥Commentary:
👉Analysis of the prevailing dynamics between buying and selling forces suggests that buying pressure remains dominant.
👉On larger time frames such as D and W, CKB continues to trade above the EMA, forming higher highs and higher lows indicative of an uptrend. However, on smaller time frames, CKB has dipped below the EMA. If these time frames reflect trader sentiment, it implies that long-term traders, institutional investors, and significant market players are still acquiring CKB at lower price levels, while retail traders may be succumbing to panic selling.
💥💥Conclusion:
👉CKB remains in an uptrend.
👉It is advisable to adhere to the trading plan outlined in the April 12 article.
👉Consider selling only if CKB concludes the weekly candle below 0.024.
THIS IS NOT INVESTMENT ADVICE. DYOR
