TOMO correction?

13 ביוני 2023

TOMO is among the cryptos that has performed very well this year, with 600% up. The trendline (in 1D TF) since March 2023 still holds.

However, TOMO has shown some signs of weakness when its price has been rejected by the local high around $1.7

I see that a distribution (following Wyckoff method) is possible on going.

As a reason, a proposed set-up is as in chart.

This crypto is highly volatile and the whole market is as well. Take care and don't forget risk management.

13 ביוני 2023

הערה

Here is a bigger view on 1D TF

15 ביוני 2023

הערה

I closed this trade. TOMO didn't get weak as expected.
BTC is a important support and bouncing.

17 ביוני 2023

עסקה פעילה

Trade reactivated at the same entry.
BTC retested the EMA50D (26800) and still consolidates below this strong support.

18 ביוני 2023

הערה

TOMO has been down 14% since entry. The trendline (1D) was broken. Here below are references (based on Fibonacci) for taking profit.

20 ביוני 2023

הערה

+24% from entry
TP1 done.

20 ביוני 2023

העסקה בוטלה באופן ידני

BTC broke out its falling wedge (channel)