Fomo or TA?
By:TradingView
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The price has been approaching the yellow line that has been somewhat acting as a resistance since 6/24. Since the rise in price starting on 3/31, there has been a divergence between the volume and the price. Zooming into lower time frames, the rise in price seems to be forming a rising wedge that is loosing momentum based on the volume divergence. Big question: does the president's claim keep the retail fomo going, beating trends. Or do the institutions begin to unload?
Here is the rising wedge confluence with the resistance line:
Here is the rising wedge confluence with the resistance line:
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