JUP is showing us a possible retrace till $0.90, a strong support area where we could expect a bounce till the resistance level at $1.22. To perform a bounce, i would like to see a rejection at the support zone and a reversal pattern
4h time frame
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JUP has dipped over 50% since hitting $1.8, accompanying with silent alts on Solana. From TA, JUP makes a healthy retracemetn that could be seen as a correction wave of Elliott impulse wave, which means there is a further pump while JUP continues to match the Elliott wave trend. Moreover, once alts season starts, JUP could gain huge profit from...
4h time frame
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JUP is creating a continuation structure since correcting from 1.61. There are two potential structures that JUP would make, first one is triangle, which entry is 1.17, second one is a falling wedge, which entry is 0.9. Therefore, we need to put SL below 0.9 to avoid being liquidated once JUP goes the wedge pattern.
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TP: 2 / 2.7
SL: 0.77
Unfortunately i missed a perfect entry on JUP for 1 cents. My long limit order was at 0.495 and reached 0.505. By the way, my ideas was correct, and i am entering now at the retrace, targeting 0.75
Nothing like a Jupu signal candle combined with a pendulum flip
Especially when combined with a red shade (extreme overbought conditions) turning off like the example at the beginning of this image
