This is a personal research and idea for investment. DYOR and TIT...
This is a 3-day chart for Tellor $TRB coin.
Bare in mind this is a huge Rounded Bottom 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 making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Aug 31st 2020
Estimated end: 2nd half of June to 1st week of July (66 days from publishing)
Price tag at time of publishing: 236,000 satoshi
Expected price tag at end of pattern: 615K satoshi
Base 1 price level: 184,400 satoshi
Base 2 price level: 266,700 satoshi
Base 3 price level: 333,100 satoshi
Base 4 price level: 399,600 satoshi
Safe take profit range: Recommended trailing take profit at 587,300 satoshi
TECH INDICATORS
Kumo cloud is bullish with senkou span A over B and following below price action. Tenkan over Kijun sen upsloped confirm bullish momentum. Chikou lagging span is upsloped, far away and high which is also a bullish confirmation.
Parabolic SAR beneath price action bullish sign too.
Bearish divergence present on last candle.
NEWS CATALYSTS AND BTC VOLATILITY
At the time of publishing this idea we can see a huge bullish candle (may 4th) which made price action blast through base 1 target, not allowing any ranging, at least for the moment. This is consistent with the listing of the coin on Coinbase Pro, sparking great buying activity.
If we look at BTC price action on the pink line we can clearly see that $TRB hasn't been affected by bitcoins dips, at least not on this time frame.
EXPECTATIONS
I expect at least 2 months of sporadic large and increasing impulse moves to reach every subsequent base.
Ranging is expected below every base, towards the curve but they should decrease as price action moves up.
FINAL NOTE
Drawing may need to be adjusted as it's very complicated to project time on a pattern this size.
This is a 3-day chart for Tellor $TRB coin.
Bare in mind this is a huge Rounded Bottom 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 making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Aug 31st 2020
Estimated end: 2nd half of June to 1st week of July (66 days from publishing)
Price tag at time of publishing: 236,000 satoshi
Expected price tag at end of pattern: 615K satoshi
Base 1 price level: 184,400 satoshi
Base 2 price level: 266,700 satoshi
Base 3 price level: 333,100 satoshi
Base 4 price level: 399,600 satoshi
Safe take profit range: Recommended trailing take profit at 587,300 satoshi
TECH INDICATORS
Kumo cloud is bullish with senkou span A over B and following below price action. Tenkan over Kijun sen upsloped confirm bullish momentum. Chikou lagging span is upsloped, far away and high which is also a bullish confirmation.
Parabolic SAR beneath price action bullish sign too.
Bearish divergence present on last candle.
NEWS CATALYSTS AND BTC VOLATILITY
At the time of publishing this idea we can see a huge bullish candle (may 4th) which made price action blast through base 1 target, not allowing any ranging, at least for the moment. This is consistent with the listing of the coin on Coinbase Pro, sparking great buying activity.
If we look at BTC price action on the pink line we can clearly see that $TRB hasn't been affected by bitcoins dips, at least not on this time frame.
EXPECTATIONS
I expect at least 2 months of sporadic large and increasing impulse moves to reach every subsequent base.
Ranging is expected below every base, towards the curve but they should decrease as price action moves up.
FINAL NOTE
Drawing may need to be adjusted as it's very complicated to project time on a pattern this size.
