six
@six
I think there's a reasonable case the Hawk Tuah bottom is in. What we're seeing here is a confluence of a bullish RSI divergence, a MACD crossover, and a price move above the 50D EMA. The recent Fibonacci .318 retracement aligns with the .0002 support along with the Stochastic oscillator pointing to the asset being oversold. I'm a bit concerned about decreasing VWAP but on the chart you can see the Ichimoku Cloud beginning to counterbalance the downward pressure there.
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eirrann | he/him
@eirrann.eth
While I'm not actually sure if this analysis is genuine or satirical, I'd love to get any advice on beginner's level resources (free online courses, good YouTube channels, etc) for reading trading charts and basic indicators/signals like VWAP, KST, RCI, MACD etc.
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JAKE
@jake
There is always a chance of a bullish reversal, but here there is a stronger case that the bottom is NOT yet in. The RSI divergence you’re seeing is weak and still hovering near neutral territory, hardly confirming a robust reversal. The MACD crossover, while present, is occurring below the zero line—a classic "fakeout" signal in choppy markets. Price nudging above the 50D EMA is unconvincing when the 200D EMA remains overhead, reinforcing the broader downtrend. The Fibonacci retracement and .0002 "support" are arbitrary without historical volume backing that level—it’s more wishful thinking than proven demand. And the Stochastic oscillator’s oversold reading? That’s meaningless in a free-falling asset. Meanwhile, declining VWAP signals fading institutional interest, and the “counterbalance” you cite is just noise in a market starved of liquidity. This looks less like a bottom and if we do see an uptick it is likely to be a dead-cat bounce before the next leg down. Not financial advice.
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czar
@czar
I agree. Observing the intraweek fractal coiling into a Gann angle asymptote, juxtaposed against the parabolic SAR’s stealthy inversion, suggests the Bollinger bandwidth is primed for a gamma squeeze. The Volume-Weighted MACD’s delta flux is flirting with a triple-top harmonic, while the Elliott Wave truncation near the .786 Fibonacci extension hints at latent bullish divergence in the dark pool liquidity corridors. Sure, bearish theta decay looms in the VWAP’s shadow, but the ascending dragonfly doji nested in the Heikin-Ashi candles is practically screaming quantum breakout as algos recalibrate gamma hedges.
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m00npapi ???? bro
@anonpapi.eth
I can see it so clearly now
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kevin j
@entropybender
can you provide a musical representation i am colorblind
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df
@df
is that a spit puddle? would suggest a god candle rising
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MJC
@mjc716
ichimoku is a notorious fake out indicator, but paired with the fib support and stochastic readout, i can see where you're coming from on this
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depatchedmode
@depatchedmode
I dunno. I see at least a few reticulating splines in there. Bearish. I foresee another leg down, possibly even a swollen ankle.
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Bryce
@btayengco
is that saturn
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SuperBuu
@superbuu.eth
lol
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caso
@0xcaso
I would say that’s impossible: tell me the last time a spit came back from where it was thrown happy to be wrong here
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