SUKU - Potential Double Bottom Targeting $2.30 - $2.70
If SUKU has double bottomed here, we could see potential growth from the area of 9 cents up to 2.3 - 2.7 dollars by winter of this year or early 2023.
Trend-based fibs, measured from opening day -> bottom -> first top give us a golden pocket in the exact same target area as conservative and more aggressive measured double bottom targets, for confluence.
For this to remain a possibility, we need to hold above the area between ~5-7 cents (no new ATLs).
In support of this idea, we've seen highest buy volume in SUKUs history here in the area of the proposed double bottom. Price has yet to reflect this.
Trend-based fibs, measured from opening day -> bottom -> first top give us a golden pocket in the exact same target area as conservative and more aggressive measured double bottom targets, for confluence.
For this to remain a possibility, we need to hold above the area between ~5-7 cents (no new ATLs).
In support of this idea, we've seen highest buy volume in SUKUs history here in the area of the proposed double bottom. Price has yet to reflect this.
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Update July 18, clean break of daily 50 MA after multiple tests, 4H chart below:
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Zoom in on daily, current structure had 2 attempted but failed breaks, 3rd break appears to have succeeded after re-testing. Looks good, but still want to see us break and hold above the daily 50 EMA here before we can expect our run up to the 200 EMA above (as the next test prior to going for a double bottom run):
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Update - Full history chart now also showing a breakout, and a break above 50 day EMA:
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Also - Coinbase chart upper trendline updated to match full history chart, also showing a more clear breakout and break above 50 day EMA:
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SUKU weekly chart now shows a Chande Kroll Stop crossover:
