As money seems to trickle into crypto again, perhaps backed by fears caused by Silicon Valley Bank collapse, I am looking for a short-term upside potential and MPS presents such an opportunity:
At the moment of this analysis we are beginning to drift outside of the potential pitchfork and that will mess up the probability if it continues for a few more days, however I believe that a delay in price action is only caused by poor liquidity and difficulty to obtain the Mt Pelerin shares.
- In June of 2022 the MPS did return to the major support level of 4 USD (yellow line) and bounced
- In July of 2022 it broke out of it's downward trend (red line) and begun drifting sideways
- No sideway-movement may continue forever as it is storing up energy for a potentialy sharp release
- There is no way to go down and thus I am expecting MPS to reach the median line of the pitchfork (approx. 28 USD)
At the moment of this analysis we are beginning to drift outside of the potential pitchfork and that will mess up the probability if it continues for a few more days, however I believe that a delay in price action is only caused by poor liquidity and difficulty to obtain the Mt Pelerin shares.