BAND Ascending Triangle Breakout - 72% Profit Potential!
Hello Future Millionaires!
Wow, BAND really has taken off, eh?!?! We're looking at an almost 7K% increase in 260 days! You know what they say... the trend is your friend, until the end; therefore, continuation is likely!
We can see BAND printing a massive bull flag with an ascending triangle at the top.
I am looking for a close above the prior daily high at 14.8595 for an entry!
The target for this setup is the measured move for the ascending triangle which has strong confluence with some strong Fibonacci targets.
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
Follow us now to stay up to take with technical analysis for the hottest cryptos in the cryptosphere!
---
Technical Analysis
-The red 10SMA is holding as support
-Printing an ascending triangle
-Possible breakout to new ATH
-Hidden bullish divergence will be confirmed upon a close above the prior high
-RSI and stochastics are testing the bullish control zone
-Incredibly bullish weekly close
---
Entry: 14.85950000
Entry Zone: 14.31-15.25
T1: 15.15
T2: 15.40
T3: 15.75
T4: 16.00
T5: 16.50
T6: 17.00
Stop: 14.12124350
--
R:R: 2.9
Risk: 4.97%
Reward: 14.40%
Leverage: 5X
Leveraged Risk: 24.85%
Leveraged Reward: 72%
Risk Assessment: MEDIUM
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines may are typically smaller time frame trends and patterns (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Wow, BAND really has taken off, eh?!?! We're looking at an almost 7K% increase in 260 days! You know what they say... the trend is your friend, until the end; therefore, continuation is likely!
We can see BAND printing a massive bull flag with an ascending triangle at the top.
I am looking for a close above the prior daily high at 14.8595 for an entry!
The target for this setup is the measured move for the ascending triangle which has strong confluence with some strong Fibonacci targets.
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
Follow us now to stay up to take with technical analysis for the hottest cryptos in the cryptosphere!
---
Technical Analysis
-The red 10SMA is holding as support
-Printing an ascending triangle
-Possible breakout to new ATH
-Hidden bullish divergence will be confirmed upon a close above the prior high
-RSI and stochastics are testing the bullish control zone
-Incredibly bullish weekly close
---
Entry: 14.85950000
Entry Zone: 14.31-15.25
T1: 15.15
T2: 15.40
T3: 15.75
T4: 16.00
T5: 16.50
T6: 17.00
Stop: 14.12124350
--
R:R: 2.9
Risk: 4.97%
Reward: 14.40%
Leverage: 5X
Leveraged Risk: 24.85%
Leveraged Reward: 72%
Risk Assessment: MEDIUM
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines may are typically smaller time frame trends and patterns (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
The measured move for this ascending triangle brings us to $17.11. I set the final target to $17.00:
Comment:
Here on the weekly, we can see the 3.618 fibonacci holding as support and the next target for the 4.326 fibonacci is $17!
Let's get this crypto!
Let's get this crypto!
Comment:
We can see that volume is decreasing with the ascending triangle. This helps to confirm the pattern.
We will see volume break above the yellow trend line upon break of this formation.
We will see volume break above the yellow trend line upon break of this formation.
Comment:
Price dipped below the stop loss, but the trade is not yet active, because there has not yet been a close above the prior daily high.
So, this setup is still valid, but price has to close above the prior high.
So, this setup is still valid, but price has to close above the prior high.
Related Ideas
