This is the biggest formation I think I've ever seen... Over the course of what, 700 days? Look at all the support and resistance levels coming together to form this beautiful almost musical like pattern.
This is the thing I love about technical analysis. Looking at a chart without any bias or Preconceived notions that I was taught by some crackpot that was selling me a bullshit course to learn from. Look at every chart like a child with wonderment and an imagination with limitless possibilites. Don't lets yourself get pinned down inside a box that tells you that you have to do it this way, or that way it has to be exactly like X or Y, and if you don't abide by those rules, you won't get anywhere. I don't buy into that. I'm of the belief that there is so much unknown yet to learn.
Not everything is known So without telling you what I think is going to happen here, I want you to take a look and tell me, or just write it down on a piece of paper somewhere , or in a word doc-whatever your preferred format. It doesn't matter. As long as you DO it! This is the only way youc an improve as a trader, and moreover within technical analysis. Don't be afraid to draw on the charts, make predictions even if you don't have a clue what you're doing. We all start somewhere, and even those of us who have been doing it for many years, still do the same thing, or at least should -you never stop learning in this game. That's something that resonates thoughout life in general, and especially within the realm of something like Technical analysis, and trading. Even more so within the Crypto space. There's so much more volatility and un-predictable behaviors /manipulation that creates differing patterns than that of what you would see in the stock and or forex market- albeit there are crossover similarites, don't mistake me. But don't get bogged down in the minutia of it all.
@maminpiltan1991, What are you talking about? This isn't a stablecoin. Look a this chart... it's constantly fluctuating up 1-200% & back down. Look at USDT/DAI usdt/usd /DAI/USd It's a FLat line- you don't see 1-300% consistent parabolic moves. If you're just going off of what you read, read a bit more. If stablecoins acted like this? They wouldn't be *stablecoins* - it would defeat the entier purpose. I iknow what AMPL is. I know what FORTH is. I understand why you would think that, especially if you're new.
Tidnull
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@skystone26, its a synthetic asset, meaning the token supply fluctuates daily at a specified time, and depending on the price at that time it automatically mints or burns tokens to make the price closer to $1
Tidnull
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@Tidnull, need to look at market cap charts to see the actual value of this token
skystone26
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@Tidnull, ahhh-- you mean like Luna/UST correlation /mint & burn ? Regardless, I believe you. I never looked to deep into it , in truth. Ty