UTK Analysis

2020년 7월 26일

UTK is experiencing a downward price movement after being rejected at the monthly level. It the downward movement subsides at the next monthly level and accumulation occurs, then a possible movement upwards may occur to the monthly level that it was previously rejected at. Since, we are approaching the end of the month, please me mindful of a new monthly level being established, therefore, the movement upwards could break the monthly level and go further to test the weekly level (the yellow line above the monthly) <-- then this would be your sell target. However, the same could apply to a price movement downward, so be weary of a falling knife.

Additionally, please note that this is a weekly move. It is displayed on the daily chart, since the candles show a clear picture of the price movements.

2020년 7월 26일

노트

Keep an eye on the wedge as well. If it is broken, then the accumulation phase can begin there followed by a upward price movement to again test the monthly level at 927 sats.