Logarithm. Time frame 3 days. Secondary trend. Downward channel.
After the rebound, the price is squeezed in a narrow 124-144 zone. The chart shows the percentages to the key support/resistance levels from this price squeeze zone.
Risk Management. It is worth noting that the price of the coin is at a super profit, I have clearly shown this on the chart, which shows the entire main, long-term trend (the entire trading history). Consequently, when working on a coin, you need to keep this in mind and limit potential losses. Observe the risk management.
A local trend. The time frame is 1 day.
Main trend Time frame 1 week.
Kommentera
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The idea is to understand where the price is in the main trend. Reversal zones and key support/resistance levels for work.
Kommentera
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from the breakout of 0.07425 the price fell by -44% to 0.0694496. Squeeze came out a little lower. From this level and reversal and consolidation in a narrow range under 0.080. The price pulled up to the downtrend line of the secondary trend. This decline has formed a descending wedge. Local % shown.
Kommentera
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went according to the second scenario, previously indicated by the marker, i.e. the final formation of the descending wedge and reversal from the level of 0.588. Now the profit is about +45%. The price has reached the local dynamic resistance of the internal descending channel. Perhaps there will be consolidation in this zone, then with a high probability of trend development continuation.
From the FTX/Alameda wallet sent CHZ 37,735,856 ($2,890,000) to the exchanges. The amount is not large at the moment, but still, to sell to large market participants need to make "general hype", and liquidity. Sending CHZ by alameda as an example.
Already started to publish on some crypto positive news accompanying the price. This phantom will not be an exception, but they will come up with (positive, usefulness, cooperation and so on, any flight of fancy...) at high pumping percentages.
@VincePrince, Downward wedge. If there will be a break of its resistance, the growth potential is substantial.
SwallowPremium
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Wow, your technical analysis is awesome man, thanks for the post!
SpartaBTC
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@SwallowPremium, I am always happy to share my vision of the cryptocurrency market with my followers.
melikatrader94
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Good look at the market, I think the price will reach the target soon Thank you
SpartaBTC
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@melikatrader94, Let's see what happens to the price after a while.
Solldy
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There's a pretty strong trend in assets right now, so I think you'll be right, and the idea will work out. But I'm worried that maybe we just haven't considered all the factors. What do you think about that?
SpartaBTC
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@Solldy, In the trading idea I described different scenarios of trend development, including less probable ones.
pejman_zwin
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Obviously, I don't have a Magic 8 ball, but I can guess that this analysis can be right. We have to see what happens.🤔
SpartaBTC
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@pejman_zwin, Yeah, you're right. Let's see what happens with the price in the future.