Rounded Bottom and Parabolic Curve idea for $TLM USDT
This is a personal research and idea for investment. DYOR and TIT...
This is Alien Worlds $TLM on USDT pair, daily chart .
:::DISCLAIMER:::
This is a relatively short-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: Early May 2021
Estimated end: 3rd week of August 2021 (45+ days from publishing)
Price tag at time of publishing: 0.1167 USDT
Expected price tag at end of pattern: 0.8+ USDT satoshi
Sub-base 1 (.b1.1): 0.1629 USDT
Base 1 price level: 0.2573 USDT
Base 2 price level: 0.376 USDT
Base 3 price level: 0.4714 USDT
Base 4 price level: 0.5668 USDT
Safe trailing take profit area: Recommended trailing take profit for the complete move at 0.75 USDT
TECH INDICATORS
Kumo cloud on the daily is showing Senkou Span A and B going flat with Span A slightly sloping up. A squeeze of the cloud will be an early bullish sign for reversal. Tenkan is still below Kijun Sen (white below black line on my setup) which needs to revert up to signal a T/K cross for a bullish nuance.
Price Action (PA) is currently beneath the Kumo Cloud, which is still considered bearish trend .
Chikou lagging span (green in my setup) is below PA, which is still bearish indication.
The Parabolic SAR (represented as dark grey gots on my layout) is beneath the PA, which is a bullish trend nuance.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly affected by BTC dips.
EXPECTATIONS
First thing I'll be waiting for is a clear trend reverse on the daily kumo cloud and a visit of the B1.1 level at 0.1629USDT approx. This to me will be a clear confirmation of bullish trend initiating. 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 Alien Worlds $TLM on USDT pair, daily chart .
:::DISCLAIMER:::
This is a relatively short-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: Early May 2021
Estimated end: 3rd week of August 2021 (45+ days from publishing)
Price tag at time of publishing: 0.1167 USDT
Expected price tag at end of pattern: 0.8+ USDT satoshi
Sub-base 1 (.b1.1): 0.1629 USDT
Base 1 price level: 0.2573 USDT
Base 2 price level: 0.376 USDT
Base 3 price level: 0.4714 USDT
Base 4 price level: 0.5668 USDT
Safe trailing take profit area: Recommended trailing take profit for the complete move at 0.75 USDT
TECH INDICATORS
Kumo cloud on the daily is showing Senkou Span A and B going flat with Span A slightly sloping up. A squeeze of the cloud will be an early bullish sign for reversal. Tenkan is still below Kijun Sen (white below black line on my setup) which needs to revert up to signal a T/K cross for a bullish nuance.
Price Action (PA) is currently beneath the Kumo Cloud, which is still considered bearish trend .
Chikou lagging span (green in my setup) is below PA, which is still bearish indication.
The Parabolic SAR (represented as dark grey gots on my layout) is beneath the PA, which is a bullish trend nuance.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly affected by BTC dips.
EXPECTATIONS
First thing I'll be waiting for is a clear trend reverse on the daily kumo cloud and a visit of the B1.1 level at 0.1629USDT approx. This to me will be a clear confirmation of bullish trend initiating. 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.
Comment:
$TLM just hit my sub-base b1.1 target level. I expect price action to range before hitting base 1 target and keep going up, unless BTC drags it down again.
