We are riding a massive descending channel, which is a bullish sign.
We are also riding a smaller descending channel, which again is a bullish sign.
MA50 and EMA50 are strong support factors.
If conquered, MA100 could be a major support. In that case, the possibility of a golden cross will bring hope. (I have not included MA30 because price action history shows it is not a formidable resistance)
We have a strong rising trend line which could act as a solid wall of support.
Also, in the 8H timeframe, we could be witnessing the completion of a "W". If completed, breakout will be the net result. (Caution: This is only a possibility)
In the weekly timeframe, we have had a decent corrective trend.
in the monthly timeframe, after the massive upswing we can witness, there has been a correction that happened last month. The correction extended to the 0.382, meaning a deep correction, and managed to close the body above the 0.5 FIB extension which is a good sign. The correction has been healthy and needed to grab liquidity to scale higher.
If you're hodler, your targets to sell could be 1.8 or 2.2. However, if you're seeking mid-term gains, your targets could be 1.03 and 1.2.
We are also riding a smaller descending channel, which again is a bullish sign.
MA50 and EMA50 are strong support factors.
If conquered, MA100 could be a major support. In that case, the possibility of a golden cross will bring hope. (I have not included MA30 because price action history shows it is not a formidable resistance)
We have a strong rising trend line which could act as a solid wall of support.
Also, in the 8H timeframe, we could be witnessing the completion of a "W". If completed, breakout will be the net result. (Caution: This is only a possibility)
In the weekly timeframe, we have had a decent corrective trend.
in the monthly timeframe, after the massive upswing we can witness, there has been a correction that happened last month. The correction extended to the 0.382, meaning a deep correction, and managed to close the body above the 0.5 FIB extension which is a good sign. The correction has been healthy and needed to grab liquidity to scale higher.
If you're hodler, your targets to sell could be 1.8 or 2.2. However, if you're seeking mid-term gains, your targets could be 1.03 and 1.2.
註釋
I would appreciate your support if you found the idea useful.註釋
Aggressive sellers will regret their panic!
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。