$TEL - an important candle

2021년 5월 19일

There are many types of candles. In the previous 4H chart, a bullish hammer formed at the support level between 06h00 and 10h00 (GMT+2). A similar candle formed on May 6, 2021 at 18h00-22h00 (GMT+2). According to dailyfx, "The hammer candlestick appears at the bottom of a down trend and signals a bullish reversal. The hammer candle has a small body, little to no upper wick, and a long lower wick - resembling a ‘hammer’. The pattern indicates that the price dropped to new lows, but subsequent buying pressure forced the price to close higher, hinting at a potential reversal. The extended lower wick is indicative of the rejection of lower prices."

While the current candle which began at 10h00 (GMT+2) seems bearish, there are signs that the bulls remain resolute following the Nebraska vote. The current downward trend seems to be a response to BITCOIN rather than a response to TEL. I maintain that literally, TEL is on sale because the likelihood of a bull run remains very high. TEL will either wait for the rest of the market to reverse northwards, or it will breakout of the current BITCOIN trend and return to the moon where it belongs.

Whatever happens, the fundamentals on TEL are just too good for one to walk away.