$NOT PIERCED THE BEARISH FVG 📈
After moving sideways for more than a week, NOT breaks above the crucial pivot level of $0.012. The momentum breakout was strong enough to go beyond the Bollinger Band as well.
We witnessed continued rejection from $0.012 multiple times and on Sunday Aug. 11 the decline started but took support near $0.01075. This decline formed multiple Bearish FVG which became invalid today as we can see the big momentum candle piercing through both of them.
For this upside move to continue the bigger FVG needs to remain invalid. At present the price is floating near this FVG box and support is getting built at $0.012 which is the upper side of the rectangle.
Now this current candle (4H) could be the deciding factor as the low of this candle will form a Bullish FVG which will be huge. Then the next candle could take support at the base of the bearish FVG rectangle and then continue it's upside move.
So the buyers are currently in control and this could be the beginning of a strong run ahead. But I'd strongly recommend a buy if the day's closing is above $0.012. We have resistances at $0.013 & $0.014 and a strong one at $0.015. On the lower side support lies at $0.011 and strong support at $0.010.
*This is not investment advice. Please do your own research before taking any trade.
