Bad Nails on some major Defis

Today I wanna show you some really bad candles in the Defi Universe.
Some of the very high priced Defis are in a consolidation it seems. The main reason for this are the profits which are priced out.

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On the charts we see monthly candles, that means each candle represents one month. If we get a closing price far away from the high or low, then it is mostly a reversal candle. Long nails on the top and smaller body called Doji.

Here are some of the Defis with a long nail on the head.

Defi

Bal

ZRX

Link

Comp

MKR

Maybe we go straight forward and make new highs but the charts showing us the real situation. Around the highs or in the way to it we could expect large sellers again. If we are in a consolidation i expect a ranging market. This means buy low and sell high but we will see what happens.

Source: (Guidants/Godmode Trader) & JFD Broker & Binance

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