$Beam/$USDT Inverse Parabolic with a potential V shape Recovery?
Good morning ladies and gentlemen! Beam has had some serious downside action. And to some of you, that may be scary and I completely understand. But the golden curves are a representation of the flow in the price action. And what we saw was pure capitulation on Beam. It was the reverse parabolic moves we see in an uptrend on other assets that everyone gets all excited about.
This asset is best depicted on other exchanges as their isn't enough history on the trading view charts for me to showcase the Bullish Divergence that is forming right now. I mean come on, this is the area where "everyone" wants to get out. You are at an area of value on other exchanges which is why I highlighted the box on here with no historical support. "Believe me, it's there". Just not on this chart.
I would like to state that while capitulating, you started showing signs of exhaustion on the sellers as depicted by my smaller curved drawing tool. With comes triple MacD and RSI Bullish Divergence on the 4 hour time frame. I think their are overwhelming amounts of bullish indicators here and people will call me crazy as all the see on the charts is this asset continuing to dump. This is all probability of course, but I have taken a position on this asset at 50 cents on another exchange. Break below, don't panic until we start to see follow through price actions. Set your stops where you think is best, but also think about your risk/reward ratio.
With Parabolic or 'Inverse Parabolic" moves comes a V shape recovery or retrace. In this case, we may be in the makes of a potential V shaped recovery. These moves are typically fast and will end with massive gains if you had got in at the right time. I made my choice to get in due to the overwhelming bullish indicators that have been forming.
I am looking for my potential exit targets to be inside that plasma pink box between the .382 and .618 retrace. The .618 on the Log scale just so happened to coincide with critical resistance ;)
Twitter: twitter.com/ChArtworks_TA
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$BTC: 35tmT7MAQXZm7rr1KzZMWNRpN2iyrnSB4z
$LTC: LVfCT9fu4dYyFAo5cW5xLrzHZHWFoG85hn
$ETH: 0x390d207b9bde62f2806caddfb94809de61da50d9
$x42: XZXm43FJcZHEVNs9dh8mdfzWyY6VfmJvPc
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This asset is best depicted on other exchanges as their isn't enough history on the trading view charts for me to showcase the Bullish Divergence that is forming right now. I mean come on, this is the area where "everyone" wants to get out. You are at an area of value on other exchanges which is why I highlighted the box on here with no historical support. "Believe me, it's there". Just not on this chart.
I would like to state that while capitulating, you started showing signs of exhaustion on the sellers as depicted by my smaller curved drawing tool. With comes triple MacD and RSI Bullish Divergence on the 4 hour time frame. I think their are overwhelming amounts of bullish indicators here and people will call me crazy as all the see on the charts is this asset continuing to dump. This is all probability of course, but I have taken a position on this asset at 50 cents on another exchange. Break below, don't panic until we start to see follow through price actions. Set your stops where you think is best, but also think about your risk/reward ratio.
With Parabolic or 'Inverse Parabolic" moves comes a V shape recovery or retrace. In this case, we may be in the makes of a potential V shaped recovery. These moves are typically fast and will end with massive gains if you had got in at the right time. I made my choice to get in due to the overwhelming bullish indicators that have been forming.
I am looking for my potential exit targets to be inside that plasma pink box between the .382 and .618 retrace. The .618 on the Log scale just so happened to coincide with critical resistance ;)
Twitter: twitter.com/ChArtworks_TA
If you want to be a loving supporter of me and my "ChArtworks"
$BTC: 35tmT7MAQXZm7rr1KzZMWNRpN2iyrnSB4z
$LTC: LVfCT9fu4dYyFAo5cW5xLrzHZHWFoG85hn
$ETH: 0x390d207b9bde62f2806caddfb94809de61da50d9
$x42: XZXm43FJcZHEVNs9dh8mdfzWyY6VfmJvPc
Donations are never required but they are seriously very appreciative! Your Supportive comments and follows are just good enough too :D <3
Join the best Crypto and Technical Analysis Community in the world!
Discord: discord.gg/Ety65Ft
(Mitch Ray's Channel) Amazing community and I highly recommend checking out Mitch Ray if you haven't yet!
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I have been extremely sick ladies and gents and have not felt like typing much. That being said, I took profit at 62.17 cents as there was 1 hour bearish divergence. I have reentered at the 50% retrace at around 56.5ish cents as we are showing rounding out price action and also lower levels of negative volume on the way down to these common retrace areas. Daily bullish Divergence has not played out yet. So much upside potential for Beam
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