This is a personal research and idea for investment. DYOR and TIT...
This is Aragon $ANT token on a weekly chart.
:::DISCLAIMER:::
This is a mid-term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory (PCT) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
ABBREVIATIONS
Rounded Bottom (RB)
Parabolic Curve Theory (PCT)
Price Action (PA)
BTC (Bitcoin)
T/K (Tenkan/Kijun Blue/Yellow lines)
Sats. (Satoshis)
TIME/PRICE PROJECTION
Pattern start: Late-Aug 2020
Estimated end: 1st week of Aug 2021 (+/-100 days from publishing)
Price tag at time of publishing: 1,604sats.
Expected price tag at end of pattern: 7,635sats.
Sub-base 1 (.b1.1): 1,941sats.
Base 1 price level: 2,422sats.
Base 2 price level: 3,422sats.
Base 3 price level: 4,230stas.
Base 4 price level: 5,038sats.
Safe trailing take profit area: Recommended trailing take profit at 7,40sats.
TECH INDICATORS (TA on the daily for lack of complete indicators on the 3-day chart)
Some Ichimoku indicators are still unavailable on the weekly timeframe.
On the 3-day chart the Kumo cloud is observed flat, indecisive market momentum as PA is attempting to climb and ranging for a long period. This is consistent with the sub-base and base 1 phase of PCT.
We have a T/K cross down today which is bullish sign and Parabolic SAR (white stepping line on my layout) confirming bearish sentiment. This is consistent with a bearish divergence from 3 days back that is still probably trying to play out.
Chikou lagging span (purple line on my setup) is downsloped but below developing Kumo cloud. All these indicators are bearish probably because there's an unresolved divergence like I mentioned before.
NEWS CATALYSTS AND BTC VOLATILITY
Some positive but not major news upcoming this year related to the governance token application.
Seems mildly affected by BTC dips.
EXPECTATIONS
I expect a strong impulse up to base 1 after present divergence is resolved and further development as expected from PCT patterns.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.
This is Aragon $ANT token on a weekly chart.
:::DISCLAIMER:::
This is a mid-term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory (PCT) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
ABBREVIATIONS
Rounded Bottom (RB)
Parabolic Curve Theory (PCT)
Price Action (PA)
BTC (Bitcoin)
T/K (Tenkan/Kijun Blue/Yellow lines)
Sats. (Satoshis)
TIME/PRICE PROJECTION
Pattern start: Late-Aug 2020
Estimated end: 1st week of Aug 2021 (+/-100 days from publishing)
Price tag at time of publishing: 1,604sats.
Expected price tag at end of pattern: 7,635sats.
Sub-base 1 (.b1.1): 1,941sats.
Base 1 price level: 2,422sats.
Base 2 price level: 3,422sats.
Base 3 price level: 4,230stas.
Base 4 price level: 5,038sats.
Safe trailing take profit area: Recommended trailing take profit at 7,40sats.
TECH INDICATORS (TA on the daily for lack of complete indicators on the 3-day chart)
Some Ichimoku indicators are still unavailable on the weekly timeframe.
On the 3-day chart the Kumo cloud is observed flat, indecisive market momentum as PA is attempting to climb and ranging for a long period. This is consistent with the sub-base and base 1 phase of PCT.
We have a T/K cross down today which is bullish sign and Parabolic SAR (white stepping line on my layout) confirming bearish sentiment. This is consistent with a bearish divergence from 3 days back that is still probably trying to play out.
Chikou lagging span (purple line on my setup) is downsloped but below developing Kumo cloud. All these indicators are bearish probably because there's an unresolved divergence like I mentioned before.
NEWS CATALYSTS AND BTC VOLATILITY
Some positive but not major news upcoming this year related to the governance token application.
Seems mildly affected by BTC dips.
EXPECTATIONS
I expect a strong impulse up to base 1 after present divergence is resolved and further development as expected from PCT patterns.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.