Hello everyone, wishing you all a Merry Christmas.
This afternoon, I sent a forecast of $MOVE to the group. Currently, it has formed a cup and handle pattern. According to the textbook target price, it measures 1:1 from the cup bottom to the cup top, and it is expected to reach around 2.2. As for whether it can get there, it still depends on fate, as technical analysis is left-side trading, so try to adopt a conservative signing strategy.
I will first observe how the resistance level around 1.4 behaves, whether it breaks through directly or stagnates. If it can't break through, I will wait for a pullback to enter. If there is a breakthrough, I will conclude based on the subsequent exit patterns. If you are not greedy, you could have already sold in batches before reaching 2.
Recently, the market has shown signs of recovery, but the resistance around 98k is still holding at $BTC . The trading volume has also declined recently, and it is possible that there will be another wave of selling to clear leverage.
However, as I said, if you wait conservatively, the spot market is basically about being patient and trying to operate less.
This article does not constitute investment advice; it is purely personal record and sharing.
