PITBULL LONG TERM FORECAST

The bullish double bottom in the 4H TF is invalidated by the recent slump. Since the short term TF is highly volatile, let's take a look at the PIT long term perspective.

In the weekly TF, we can see a bullish falling wedge forming. Candles have slumped towards the apex of the wedge, which usually marks the bottom of a downtrend. Upside target is 0.00000000085.

Moreover, weekly major support lies at 0.0000000004-5. Even a major sell off can't easily break this support in just one go. The KDJ oscillator suggests that the present sell volume is weak. Yup, it most likely can't break this support at this point. So, DCA. It's gonna bounce back soon.😉

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