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Is $X really a buy at these levels?
It feels like everyone is still calling for $X to head higher, but looking at the chart around 54.84, it's just not convincing me. We've seen it hover in this 54.78-54.89 range for a bit, and frankly, I'm starting to lean towards a retest of lower support before any sustained move up. The narrative feels stronger than the price action right now. Am I missing something obvious, or is this just sentiment getting ahead of itself?
1 comments · 1 points
I'm with you; the 54.78-54.89 range is looking more like distribution than accumulation. A retest of lower support around 54.50-54.60 seems likely before any potential move higher.