Coin exchange - binance. The main trend is an uptrend. Formed an ascending channel. The secondary trend is a downtrend. Formed a downward wedge.
Cycle 1 is about 370 days. Cycle 2 is about 470 days. Cycle 3, if confirmed, about 570 days.
The coin is promising for the accumulation of position, as long as the Binance exchange exists and is in the hype of the crypto trend.
ENTRANCE 1) on the breakthrough of the line of resistance of the wedge. 2) confirmation of the support of the upward channel. Support will be the rising trend line of the channel.
Stop loss Under key support levels during your entry into the market. Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin. Particular attention is given to the potential reversal zone of the minor trend and the support line of the rising channel.
TARGET All levels and algorithm of work on the chart. The coin is suitable for high-volume positional trading.
Comment
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There is a breakthrough of the wedge resistance line
Trade closed: target reached
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+ 58% second zone since the breakthrough of resistance reached
Trade closed: target reached
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Price reached wedge base levels.
Comment
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An uptrend is developing.
Trade closed: target reached
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Long + 61% Short + 70% (the price fell below, but the last targets were in this zone). Long + 125% Short + 9% Long + 61% (the trend continues).
Comment
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+ 530% from the secondary trend reversal zone (from the squeeze minimum over + 1144%)
Trade closed: target reached
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the price reached the last target of $ 144 (maximum $ 148) C trend reversal (safe entry) + 1135% (not the minimum).
Comment
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Since the trend reversal + 2711% ($ 355), the price stayed under the resistance level 144 for 7 days, but still broke through it. At the moment, the price is in an uptrend (green trend line). There is a breakout of the local downtrend line, there are attempts to gain a foothold above it. Trading with the trend.
Comment
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+ 225% From the breakout of the resistance of the triangle. The price is developing in an uptrend. From the minimum entry point more than + 5500% (the trading idea was published when "faith was killed"). On the contrary, faith is strong now. This is a reason to think about everything that is happening now and perhaps your mistakes in the past and potential in the future.
Hey, I analyzed bnb before seeing this and I saw a big flag in it's best point to buy, but it shows a projection to 50 or 52 usd. I don't know haha. I like your analysis. Can you tell me where I can learn more things to be a better trader? I read pristine, Wick off, price action.
SpartaBTC
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@lucascapobrunetta, What timeframe did you see the flag on? This is the movement of the coin on a global scale from the very beginning of trading. If you are a scalper and trade a small timeframe, it will not be relevant for you.
lucascapobrunetta
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@SpartaBTC, did you really eliminated twice my comment?
UnknownUnicorn3984200
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Followed the trade. Thanks a lot. A correction to 23 then 21 is likely i guess
SpartaBTC
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@badcatchero, Yes, it is possible.
SpartaBTC
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@badcatchero, the graph shows the price movement on a global scale.
UnknownUnicorn3984200
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The wedge is broken. Do you think it will still visit the rising trendline of the channel or start the parabolic walk?
SpartaBTC
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@badcatchero, yes there is a breakdown of the wedge resistance