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Tolberti
Jul 30, 2022 7:23 AM

Request REQ - Massive wedge is breaking out! + New bull market Long

BINANCE:REQUSDT1D
Request Network / TetherUSBinance

Description

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  • We have a huge falling wedge on the daily chart, and the price is currently breaking out!
  • As per my Elliott Wave analysis, an ABC correction (ZiagZag 5-3-5) has been completed on the macro scale.
  • We had a massive uptrend in 2020–2021 and also made a double top (2018, 2021), so this coin is definitely stronger than others.
  • The first profit target is at a strong resistance (Wave B) + 0.618 FIB, but I think we can reach a new all-time high, maybe next year.
  • As you can see on the chart, the main trendline has been destroyed by the bulls and the price is printing an inverse head and shoulders pattern!
  • I expect tremendous pumps for selected altcoins. You can find them in the related section down below.
  • For more ideas, please hit "Like" and "Follow"!
Support and ResistanceElliott WaveVolumerequsdtREQUSDREQBTCFalling WedgeDescending TriangleInverse Head and ShouldersFibonacci RetracementTrend Line BreakAscending Triangle
Comments
Tolberti
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Post your questions and related ideas about REQ here. I look forward to your comments!
CoinWiseTrader
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@Tolberti should I take entry now?
Tolberti
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@techlosoft, Yes, sure.
Ersin_ARSLAN
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I love this coin! And i want to say that your charts always working bro!
Tolberti
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@Ersin_ARSLAN, Thank you!
haloman0ol
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Would you still consider it as being a head and shoulders pattern after the drop? Can the above mentioned scenario with the target still play out? What do you think?
Tolberti
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@haloman0ol, Yeah the HaS pattern is still valid, because we are holding the right shoulder.
haloman0ol
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@Tolberti, Thanks mate!
pettee075
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when will the breakout be activated? after 0.148 $ ?
Tolberti
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@pettee075, The breakout is activated right now in my opinion.
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