$TFUEL in a healthy trading range with strong upwards potential

It has been quite a while since my last post, but lately the market was moving in a wide trading range of an accumulation phase.

One can clearly see that once the sell off of the overall crypto market was exhausted (low volume), several automatic rallies followed that got rejected at the previously established price levels (purple for weekly and white for monthy levels).

The price had already experienced a spring (downward movement, followed by a spring upwards) and now, it just saw a shakeout. Shakeouts can follow after a price advance has started, with rapid downward movement to induce retail traders and investors in long positions to sell their shares to large operators.

As long as the price moves within this trading range, I expect next a sign of strength, followed by a last point of support. I watch out for low volume and diminished spread, which will serve as a confirmation. Finally the price should take off.

For price target references I use my monthly levels of resistance (white lines).

As always, do your own due diligence. This is no financial advice, so trade with care!

For reasons of transparency:
I am invested in $PUNDIX and $TFUEL with 1/4 of my account size. The rest is buffer cash for buying dips.

Comment:

So, here we are one month later and as you can see, the price is still moving within the identified TR accumulation zone. The sign of strength at 0.42$ offered a good opportunity for quick profit taking, before the price went back to the last point of support around 0.24$, also a good spot to increase the long position. We can see that during the price decline from 0.42$ volume has diminished. Now we have to wait for the markup (also depending on $BTC). A stop-loss should be set a little bit below the montly support, so noone will get stopped-out too early.

Always do your own due diligence! This is no financial advice - please trade with care :)