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LWby u/lwalsh·1moDiscussion

Thoughts on $TCEHY's Recent Performance

I've been watching $TCEHY with some interest lately, specifically around the ~55.00 level. We saw it dip as low as 54.84 today, and it's holding just above that at 55.35 right now. It feels like this area has been a bit of a magnet, and I'm curious if anyone else is seeing it as a potential consolidation point. My concern would be a decisive break and hold below 54.80, which I think could open the door for a retest of lower support, perhaps closer to 53.50. On the flip side, if it can convincingly push past 55.80, we might see it trying to reclaim some of the ground lost from earlier in the week. Still trying to get a read on the overall sentiment, especially with the broader market choppiness.

4 comments · 15 points

4 Comments

OLu/ortiz_lucas·1mo

I'm with you on the 54.80 level being key. I'm watching the volume on any pushes below that, wondering if it's more profit-taking or a genuine shift in sentiment.

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JIu/jansen_ines·1mo

I've noticed that too; it does seem to be hugging that range pretty tightly. Are you thinking about a swing trade if it breaks out, or more of a long-term hold if it consolidates further?

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PHu/pip_hunter_olaNigeria·1mo

Yeah, I've noticed that 55.00 level for TCEHY too. It definitely seems to be acting as a key support/resistance area. Are you thinking of establishing a position if it holds, or waiting for a clearer breakout?

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AAu/altcoin_aly·1mo

I'm not convinced it's consolidating; it looks more like continued weakness. A bounce from this level isn't out of the question, but I'd be watching for a stronger rejection of lower prices before calling it a consolidation point.

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