#PLTR Huge bear trap? ๐ปMegaphone in progress๐ฃ + RSI divergence
Hi All, my main 3 take-outs from this analysis are the following:
1- Even though the situation seems to be compromised and price seems be heading to 17$, be careful bears, as the price is forming right now a rare megaphone, also called broadening bottom. It basically indicates that the price is charging and volatility is increasing in the perspective of a strong reversal move
2- Please note that there is a strong divergence between price action (lower lows) and RSI (higher lows) and I think it is realistic to expect a reversal soon
3- Keep in mind that we have another static resistence given by the down black trendline that the price will need to retest (and possibly breakout from!). Dec 27th might be a good date to try this breakout...
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- Even though the situation seems to be compromised and price seems be heading to 17$, be careful bears, as the price is forming right now a rare megaphone, also called broadening bottom. It basically indicates that the price is charging and volatility is increasing in the perspective of a strong reversal move
2- Please note that there is a strong divergence between price action (lower lows) and RSI (higher lows) and I think it is realistic to expect a reversal soon
3- Keep in mind that we have another static resistence given by the down black trendline that the price will need to retest (and possibly breakout from!). Dec 27th might be a good date to try this breakout...
Not a financial advice, just personal opinion. Do your own due diligence and good luck!