Major trend. This idea is a continuation of a closed idea on this pampa coin published 1.5 years ago before a series of significant pumping (in a bear market) in the process of forming a channel with a wide range.
The main trend is a descending channel. Now the volatility is narrowing under the descending trend line, and a descending triangle is forming. The reversal zone. The denouement in the near future.
The descending triangle itself is a bearish formation, but at the moment it has formed at -91% of the price highs (liquid high zone, not listing) and under the descending trend channel. This is a positive sign. It is important to hold the "level" of 0.3181.
It is worth noting that due to low liquidity, all price movements have a huge percentage. Stops on such coins due to price slippage (low liquidity) are useless, even with a large step (irrational). It is preferable to work from the average set/reset price with a pre-allocated position according to your risk management. The exception is protecting profits or entering a trade with stop loss after they are knocked out (very hard to catch in time).
1) Breaking a downtrend under a pamp alts - trend reversal. Significant Pump. 2) Breakdown of descending triangle support - dump, descending triangle targets.
Line chart.
Locally given large triangle in its final phase of formation.
Trade closed: target reached
⋅
1 target reached +55% Triangle broken upwards. Local pullback. Buyer's volume. With a high probability the price pumping will continue. For this purpose it is important not to break the local trendline (dominating price direction), i.e. that the price does not consolidate under it.
Trade active
⋅
Comment
⋅
29 12 2023 Rollback. Local wedge formation and reversal zones.
Comment
⋅
06 03 2024
momentum of about +50% from the reversal level of 0.5375 to the resistance zone of 0.9069. Since the trend reversal (publication of the trade idea) the price has grown only by +130%.
Altcoin lags significantly behind its pamp brethren having such a beautiful X name and low liquidity. As a rule, such lagging altcoins are then "pumped" by a large %.
Comment
⋅
The whole price decline (the whole bear trend) can act as a big pump bowl (now there is a transition beginning in 3 phases). Because of liquidity, such coins can make significant pamp slips (like ETC at one time) at the right time, on some fictitious news for hamsters.
Trade closed: target reached
⋅
Locally. After impulse-buyback of about +50% from 0.748 (118), pullback exactly (squeeze) to 0.5375 zone and consolidation wave set (rise - squeeze 0.749, pullback, rise) along the dynamic support of the 3rd phase of the bowl, that is with an upward trend (otherwise it is not possible to hold supply/demand). Now momentum to 969, oops, pardon me 0.9069).
Secondary trend. Second local set zone target reached (phase break). +180.6% (zone of first significant phase change resistance 9.069 - 969). As shown in the publication ideas 21 10 2023. Note that the publication is at the moment of breaking the local accumulation trend, and the transition already in the local phase participation, all the same accumulation zone on a larger scale.
As, the chart very “feels” everything that was previously shown and described and not only “levels”, don't you find it? Why so? Coincidence?) Maybe. What are coincidences? Are they such? Or perhaps if a person does not understand something, he or she bends it to the general concept of the incomprehensible “coincidence”. Knowledge, experience, understanding, i.e. mind are acquired, coincidence is crossed out from the section of such. Coincidence and intelligence are not identical. Many are so smart that they become mega dumb. Mind can be constructive and destructive, i.e. serve for good or be “evil”. Mind is the true concept, and it only serves for good.
Trading is like our world, everything is built on math and experience. Any event and action can be translated into a mathematical function and converted into a mathematical value.
Comment
⋅
Trading is like our world, everything is built on mathematics and experience. Any event and action can be converted into a mathematical function and vice versa. Express the function into a graph by introducing input components. Only one of the waters has a history of previous events, but for the majority, those who are doomed to lose, this seems to be the main thing. Understanding time in projection onto the internal pricing mechanism or the very influence on pricing makes for a “conditional miracle”, which is not one. A miracle is an emotional impression of misunderstanding and the inability to rationally explain a particular result or event.
Let's return to this vomiting and mega-simple trading, as well as the desire to make money with the help of “nothing”, due to the irrational actions of not very smart people, partly now, but mostly, naturally, in the future. Sorry for my French...
One of the lagging, but very volatile coins (for now, this is the phase) of the market. I advise you to pay attention if you are working in a #pumpDump strategy on medium-liquid cryptocurrencies, with an emphasis on less liquid ones, that is, an order of magnitude greater percentage profit after leaving these “braking” zones.
Comment
⋅
this is what this candy wrapper looks like on a line chart, “without market noise” after rebranding-swap, that is, in simple reset language - deceiving the former holders of the sect “X’s soon, buy at highs” !".
Comment
⋅
wide consolidation range (68%) under the key resistance level. Accumulation of (additional) volume conditionally "expensive" (capitulation on growth).
PUNDIX looks good to me, I agree with your analysis.
skyfu1
⋅
coin never pumped. cycle target is at least 23$ just takes some time.
SpartaBTC
⋅
@skyfu1, Seems to me $23 is a lot of money. Locally now it is possible to take profit, if there will be a trend reversal and the triangle will be broken upwards +50-150%.
If this altcoin survives to the next high of the bull cycle of the distribution zone, that is the end of 2024 and the beginning of 2025, I think that the maximum reasonable targets are 2.1 -2.3 dollars. That's actually a great deal considering it's currently at $0.3.
SpartaBTC
⋅
@skyfu1, Reaching a maximum price of9.6 dollars. That is, this listing price on the binance exchange (rebranding of the coin) I think it is unlikely to repeat. But, if by some miracle it happens again, I'm all for it))))
skyfu1
⋅
@SpartaBTC C I mean Ankr was in a similar situation in 2020 doge coin also.Ankr went from peenies to 20cents and everybody know what happened with doge. They seem to overshoot the 4.236 fib extension by 100-200% in the very first cycle.For pundix I did only project the 1.618 which is in my view very conservative.I think it's possible to happen in 2 years time.
SpartaBTC
⋅
@skyfu1, I have little faith in that. I think that this coin will be significantly pumped, the goals I voiced.
Then, the end result, as most of similar altcoins—is delisting from the exchange binance, where the main liquidity and trading volume, as well as from other liquid exchanges. The result is the "dying of the cryptocurrency". There is no usefulness for the crypto industry, only speculative interest.
But, this is later, first pamp)))).
jtserra2000
⋅
pundix pump comming
SpartaBTC
⋅
@jtserra2000, It is quite possible, the main thing is that this big triangle that I showed was not broken down)))).