💎In one of our last Defi analyses we have shown the formation of the double bottom. After the price bounced off the 8500 resistance area for the second time, we can witness a potential formation of a triple bottom.
💎The critical support lies at 5590, which is confirmed by the 88.6% Fibonacci retracement level. As of yet, Defi respected the support while trading...
💎The initial Defi Index forecast came true and the price moved up towards the 8167 resistance. Moreover, Defi broke higher and on the pullback tested 8167 level, where resistance became the support.
💎Such price action leads us to the conclusion that the .......
💎The Defi Index could have completed a Head and Shoulders reversal pattern while forming a double bottom at 5542 level. This support aligns with the 261.8% Fibonacci retracement, applied to the last pullback before the final drop.
💎Today, Defi Index is testing the support for the second time, and for now.............
DeFi index lost 50MA support that was holding the up-trend and finally broke bearish.
Now retesting the wedge, seems like retracement is in play short-term before resuming bullish again!
Current Price= 2476.9
Sell Entry = 2495.9 - 2616.9
Take Profit= 2263.2 | 1986.6 | 1790.0
Stop Loss= 2810.3
Risk/Reward= 1:1.15 | 1:2.24 | 1:3.02
Expected Profit= +22.94% |...
DeFi index is about to break bullish, you can enter here of wait for a small pull-back!
Current Price= 1843.2
Buy Entry= 1808.3 - 1731.1
Take Profit= 1992.7 | 2131.2 | 2322.1
Stop Loss= 1591.6
Risk/Reward= 1:1.25 | 1:2.03 | 1:3.1
Expected Profit= +25.20% | +40.86% | +62.42%
Possible Loss= -20.12%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Welcome to this analysis about the DEFI Index, we are looking at the 6-hour timeframe perspectives. The Index recently has shown up with a sharp move below a well-established ascending-trend-line marked in my chart on which the Index severely bounced bullishly to the upside and now recently moved below it signaling it is now a serious resistance-line that...