Gnosis (GNO) - Cup and Handle + bonus

Cup and Handle formation forms on the above 1-day chart after a 40% correction from late August with a target of $460. Trade becomes valid after a break of resistance with price action around $275.

Bonus?

There’s something else on the Gnosis / BTC pair worthy of attention. On the weekly chart (below) price action made an impulsive break of the 100-week EMA (Cyan line) following a cross up of the 50-week EMA (green line) by the 21-week EMA (circled in purple). This is super bullish.

A large move in price action should now be expected once price action confirms support on the 100-week. Currently there are a handful of alt-coins in this position. If you look you will find them! Some examples below.

Good luck.

WW


Gnosis 100-week EMA break

Here is an example from the weekly AAVE chart once the 100-week EMA is broken, a 3000% move against BTC.

And VEChain

Trade closed: target reached:

Kaboom. Target squired.

Is it possible it continue up? Sure.

Is it probable? 50/50, that's not trade to risk those gains on. There's better options out there.

Comment:

If you're still in this trade, a trip down to $330 seems highly probable with the close of the weekly candle.

Trade closed: target reached:

Back at resistance with sell signal as before, look left.