The money printer formation happens after a retracement to the downside. Notice how all the moving averages besides the yellow 200MA is gathering tightly with price action? Notice how the 200MA is gapped above? Normally, the algorithm will push price action up to fill the gap between price and the yellow 200MA near $1.20. The bulls will really want to get price action back above the 4hr 200MA to resume bullish activity to the upside. NFA, DYOR ⚠️ #Crypto #Trading #SUI
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$SUI 4Hr Money Printer Formation
The money printer formation happens after a retracement to the downside.
Notice how all the moving averages besides the yellow 200MA is gathering tightly with price action?
Notice how the 200MA is gapped above?
Normally, the algorithm will push price action up to fill the gap between price and the yellow 200MA near $1.20.
The bulls will really want to get price action back above the 4hr 200MA to resume bullish activity to the upside.
NFA, DYOR ⚠️
#Crypto #Trading #SUI