I've deleted almost all my trend lines from this chart to see the chart clearer and I've realised, right now, there's no a proper chart pattern. Even though it resembles a triangle I don't think this is a proper one.... there would be too many touches inside it. At least, this is my opinion.
I've noticed that price is over a support zone which worked already 3 times and looks like is gonna work a fourth one. As you can see we're between 0.5 and 0.618 Fib lines, being more close to 0.618 would be more reassuring about a bounce back but considering the past I think this might work as well as reversal zone for 1INCH. Assuming BTC doesn't dump this is a great entry price for 1INCH. Notice that I've left a slanting line because it looks like price bounced back on this many times. Assume that one can be a resistance as the purple zone and the dashed line over the price.
EDIT: I forgot to say that there's a bullish DIV on the 4h chart
All this will remain true if BTC doesn't start another dump, otherwise even this TA will be invalidated. I dream of a crypto market where every person/bot doesn't sell when BTC dumps but so far it's just a dream.
I've noticed that price is over a support zone which worked already 3 times and looks like is gonna work a fourth one. As you can see we're between 0.5 and 0.618 Fib lines, being more close to 0.618 would be more reassuring about a bounce back but considering the past I think this might work as well as reversal zone for 1INCH. Assuming BTC doesn't dump this is a great entry price for 1INCH. Notice that I've left a slanting line because it looks like price bounced back on this many times. Assume that one can be a resistance as the purple zone and the dashed line over the price.
EDIT: I forgot to say that there's a bullish DIV on the 4h chart
All this will remain true if BTC doesn't start another dump, otherwise even this TA will be invalidated. I dream of a crypto market where every person/bot doesn't sell when BTC dumps but so far it's just a dream.
Comment:
My TA was right so far, since my call price went +15% and now is retracing but I think it's a normal retracement before going up more. I told you that support zone was strong, congrats if you entered. I keep holding up until 1INCH goes double digits!
Comment:
currently piercing the first resistance, we need to close the next 1h candles over that dashed line! Even if the second will be a red one doesn't matter as long as it closes over the line. Let's go!
Comment:
1INCH testing again the resistance. The more it get tested the more it's likely to break! If it closes a 4h candle COMPLETELY over it then price will likely break out.