Hi folks given that Bit farms is under a bearish order block and is below VAH with the stochastic RSI falling I am expecting the price to touch the POC of around $1.60 where buyers should step back in. I believe a shakeout is taking place so the big institutions can buy at better prices probably the POC level before the price turns bullish again which it should given the BTC SPOT ETF approval and incoming funds
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As we can see we have been rejected of the 1.618 on the weekly and lost the 200EMA looking to test the 50EMA and 50SMA which coincides with the short to $1.60 with the stochastic RSI still falling
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Trade still in place, heading towards the lower band of the Keltner channel with Stochastic RSI and BB% falling with a fractal and CE sell signal as further conformation
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Called this trade twice to $1.60 came close at $1.66 but that will do for me will now do anther analysis on this miner