This is a personal research and idea for investment. DYOR and TIT...
This is Synthetix USD $SUSD coin on a 3-day chart.
:::DISCLAIMER:::
This is a mid-term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Mid-Dec 2020
Estimated end: 1st week of Late July 2021 (60+ days from publishing)
Price tag at time of publishing: 2,490 satoshi
Expected price tag at end of pattern: 5,550 satoshi
Sub-base 1 (.b1.1): 2,044 satoshi
Base 1 price level: 2,499 satoshi
Base 2 price level: 3,080 satoshi
Base 3 price level: 3,550 satoshi
Base 4 price level: 4,020 satoshi
Safe trailing take profit area: Recommended trailing take profit at 5,300 satoshi
TECH INDICATORS
I'm doing TA on a daily-chart since the 3-day still doesn't display full indicators yet.
Green Kumo cloud indicates bullish trend with recently broken out Chikou Span from PA.
Recent T/K cross up is also bullish. All indicators are upsloped. Parabolic SAR also confirms trend placed below PA.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly unaffected by BTC dips.
EXPECTATIONS
I expect swinging PA between bases with increasing impulse moves upward and decreasing ranging movement. PCT states that price of an asset once base 3 is reached can double its price in a very short period. This is not necessarily so in this case, but at least 50% increase is expected.
The distance from the curve makes me believe that we still should expect some ranging consolidation in PA.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.
This is Synthetix USD $SUSD coin on a 3-day chart.
:::DISCLAIMER:::
This is a mid-term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Mid-Dec 2020
Estimated end: 1st week of Late July 2021 (60+ days from publishing)
Price tag at time of publishing: 2,490 satoshi
Expected price tag at end of pattern: 5,550 satoshi
Sub-base 1 (.b1.1): 2,044 satoshi
Base 1 price level: 2,499 satoshi
Base 2 price level: 3,080 satoshi
Base 3 price level: 3,550 satoshi
Base 4 price level: 4,020 satoshi
Safe trailing take profit area: Recommended trailing take profit at 5,300 satoshi
TECH INDICATORS
I'm doing TA on a daily-chart since the 3-day still doesn't display full indicators yet.
Green Kumo cloud indicates bullish trend with recently broken out Chikou Span from PA.
Recent T/K cross up is also bullish. All indicators are upsloped. Parabolic SAR also confirms trend placed below PA.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly unaffected by BTC dips.
EXPECTATIONS
I expect swinging PA between bases with increasing impulse moves upward and decreasing ranging movement. PCT states that price of an asset once base 3 is reached can double its price in a very short period. This is not necessarily so in this case, but at least 50% increase is expected.
The distance from the curve makes me believe that we still should expect some ranging consolidation in PA.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.