🟡Secondary trend. All this downtrend has formed a descending wedge in the secondary trend, which is conditionally a bullish formation. Important levels breakthrough and consolidation of which depends on the development of the trend is indicated by arrows. Also showed the percentages from the reversal zone, if we go in a bullish direction.
This is how this wedge looks like on a linear price chart.
🔴Local trend. It is worth noting that if the resistance at 0.9697 is not broken and there is an impulse by triggering a lot of stop-losses to long under the support at 0.8186, then the triangle may reformat into a double bottom with a flat top, provided that the zone of previous local lows is held.
Major trend. Time frame 1 week.
10 2022
Also on the chart in the main trend, the fractality of the pamp/dump of the so-called pamp zone can be seen.
This is how the main trend now looks on the linear price chart.
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"🐳Kits" It should be remembered that TWT is a project of the Binance exchange (also there is a relationship with Ilon Musk and twitter) and a lot of coins are still in large holders (not exchanges), the purchase price of which is not shown on this chart (excess profit). Therefore, you should always keep this in mind and follow the mani-management.
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breakout of the ascending triangle down at -16.96% and from this indicator (0.7531) local trend reversal at the moment +38%. There is significant conditional buyer volume. The price is in the resistance zone at 0.96 (above this price). Next mirror (former consolidation zone) resistance 1.1318.
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+55% first wedge target. The price has reached a rather strong resistance level of 1.1318. If we consolidate above it there can be a significant price growth.
Trade closed: target reached
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+87.77% to rather strong resistance 1.3180. A local rising flag has been realized.
The mirror support zone at 1.1318 is now key, its holding will keep the bullish trend direction. A pullback to it and consolidation between these zones of levels is possible, if the resistance at 1.3180 is not overcome soon.
Interesting explanation, I support you and agree with your idea)
SpartaBTC
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@Gold-Tech, Well, at the moment everything is according to plan, the first sales target of +50% from the entry point has now been achieved. You can use stop loss to protect your profits.
RLinda
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Totally agree with you, highlighted the key aspects intelligently)
SpartaBTC
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@RLinda, local pumping of the price of this cryptocurrency continues.