Is SUSHI/USD the lagger after being listed on Coinbase?
Today, SKL , MATIC, AND SUSHI were listed on Coinbase. SKL and MATIC both put in 50%+ days while SUSHI/USD, putting in bullish activity, did not break out into ATH .. yet.
Aside from the fundamental news, we have some classical chart patterns, and price action clues that a break out to ATH is imminent. On 20 of FEB Sushi found sellers and profit taking at 19.34 and established a local high.
On March 1st, Sushi double topped with a swing failure pattern, wicking a slightly higher high, but not putting any price action above 19.34 worthy of continuation. BUT after this double top , the clue is the higher low in the range, right above the equilibrium of the range.
On March 9th , the 3rd attempt! Rejected again... but yet... another higher low.
Equal highs? Ascending lows. We have the classical chart pattern called the ascending triangle forming! Also considered a probable continuation pattern in a trending market.
So what's happening with price action? Our first high was formed. Why? Sellers taking profit. We have now established resistance. And what is resistance? It is a wall of sell orders/ shorts laying there. But.. the more times price punches at resistance, the sell wall gets eaten away at, and the higher lows indicate accumulation, and impatience of buyers to wait for price to correct further. The sell wall/resistance is weakening.. and the sellers are wary that higher prices are coming in, pull their orders to sell at a higher price. Buyers are waiting for the breakout above 20 bucks to jump in for the ride.
I see re-accumulation and expect a breakout this week.
Thanks for reading! Give me a like and follow if you like what you see. Below is some shitcoin trading tips.
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I am @shitcoin_rich. I'm just some guy who made it in 2017 and gave a lot back to the market in 2018 and 2019, but, I learned a lot of great lessons and nuances of the altcoin market. My TA is meant to be simple, no gann fann's or fib circles. And I picked up a few nuanced alt coin trading tips that you can only see after staring at these charts for a few years. I trade with EMA's as my baseline with price action as my basis for exact entries. I use fibonnaci/ market geometry/ indicators/ divergence for confluence on my entries/ exits. I will be making predictions, but am I reactionary trader. I am the farthest thing from a financial advisor.
1) When BTC is trending bearish , alts are mostly bearish .
2) When BTC is trending bullish , alts are mostly neutral or bearish .
3) When BTC is consolidating, alts are most neutral or bullish .
4) After a BTC bull trend, and moves into short to mid term consolidation, money almost ALWAYS moves into alts.
5) Alts follow Ethereum's macro trail mostly. Ethereum follows BTC's macro trail mostly.
6) If you LONG/ BUY alts with bearish momentum for Bitcoin or Ethereum , odds are you will lose.
7) I personally still use USD to buy my coffee and pay my rent.. half the time you're going to gain USD and lose BTC when trading alts. I trade USD and USDT pairs to gain USD. If I lose BTC value, it doesn't phase me.
BTC is King. Ethereum is queen. Alts are volatile peasants.
Long/buy Alt coins when BTC and ETH have bullish and/or sideways conditions.
Aside from the fundamental news, we have some classical chart patterns, and price action clues that a break out to ATH is imminent. On 20 of FEB Sushi found sellers and profit taking at 19.34 and established a local high.
On March 1st, Sushi double topped with a swing failure pattern, wicking a slightly higher high, but not putting any price action above 19.34 worthy of continuation. BUT after this double top , the clue is the higher low in the range, right above the equilibrium of the range.
On March 9th , the 3rd attempt! Rejected again... but yet... another higher low.
Equal highs? Ascending lows. We have the classical chart pattern called the ascending triangle forming! Also considered a probable continuation pattern in a trending market.
So what's happening with price action? Our first high was formed. Why? Sellers taking profit. We have now established resistance. And what is resistance? It is a wall of sell orders/ shorts laying there. But.. the more times price punches at resistance, the sell wall gets eaten away at, and the higher lows indicate accumulation, and impatience of buyers to wait for price to correct further. The sell wall/resistance is weakening.. and the sellers are wary that higher prices are coming in, pull their orders to sell at a higher price. Buyers are waiting for the breakout above 20 bucks to jump in for the ride.
I see re-accumulation and expect a breakout this week.
Thanks for reading! Give me a like and follow if you like what you see. Below is some shitcoin trading tips.
-
I am @shitcoin_rich. I'm just some guy who made it in 2017 and gave a lot back to the market in 2018 and 2019, but, I learned a lot of great lessons and nuances of the altcoin market. My TA is meant to be simple, no gann fann's or fib circles. And I picked up a few nuanced alt coin trading tips that you can only see after staring at these charts for a few years. I trade with EMA's as my baseline with price action as my basis for exact entries. I use fibonnaci/ market geometry/ indicators/ divergence for confluence on my entries/ exits. I will be making predictions, but am I reactionary trader. I am the farthest thing from a financial advisor.
1) When BTC is trending bearish , alts are mostly bearish .
2) When BTC is trending bullish , alts are mostly neutral or bearish .
3) When BTC is consolidating, alts are most neutral or bullish .
4) After a BTC bull trend, and moves into short to mid term consolidation, money almost ALWAYS moves into alts.
5) Alts follow Ethereum's macro trail mostly. Ethereum follows BTC's macro trail mostly.
6) If you LONG/ BUY alts with bearish momentum for Bitcoin or Ethereum , odds are you will lose.
7) I personally still use USD to buy my coffee and pay my rent.. half the time you're going to gain USD and lose BTC when trading alts. I trade USD and USDT pairs to gain USD. If I lose BTC value, it doesn't phase me.
BTC is King. Ethereum is queen. Alts are volatile peasants.
Long/buy Alt coins when BTC and ETH have bullish and/or sideways conditions.