Hello and welcome to episode 14 of TA (Technical Analysis) Today we are diving into the Sleepless AI Token!
4 days ago in one of my blogs, I told you that after I created my position, there was a continuous uptrend in the AI token and during the recent big price momentum when the token reached an important resistance as per my analysis, I sold 50% of my total quantity with almost 60% profit, And now I am holding my position with the remaining quantity confidently for bigger upmove.
The price action that you can see in the red ellipse area in the screenshot below is undoubtedly a good sign that the price is holding above a good resistance but if you look at the price action of December first half last year, you will notice that currently the price is trading close to another very important resistance which I've market in yellow and is yet to be broken.
As long as the price is above this white trendline, I will remain bullish on my position in this token. If the price breaks the yellow resistance here and holds it on the upside, I will add quantity to it. You must be thinking that if I have to buy, then why not now when this token is cheap?
Well, this is an important part of my trading psychology that it is okay to buy expensive but not to buy weak. : )