See the clear inverse head and shoulders on the cusp of a break to the upside. The same head and shoulders exists on the 2hr, 4hr. The RSI is coiling up and compression leads to expansion. Bullish divergence on the longer time frame charts. The orderbook is weighted by buyers and visible sell levels around 0.56. Still waiting for the buy and go to the beach...
A measure move on 1inch if the head and shoulders plays out is 200 percent. Momentum oscillators and moving averages are positioned Bullish for the move. A clear H&S on the four hour is currently forming to extend the move upward. Orderbook buying pressure at the last resistance where I entered. It's best to wait for confirmation of the 20 EMA crossing the 55...
1inch within the next week will consolidate and then make a move back up to the .54 range. Look for a good buy at .42 over the net few days before the spike.
Cheers,
Bo
#1INCH
The bear market trendline has just been pierced and closed above with beautiful volume.
This is exactly what we like to see during a Wyckoff Reaccumulation Flag
1INCHUSD crossed over the 1D MA50 today for the first time in almost 3 months (April 19th). As the 1D timeframe turned technically bullish again (RSI = 57.661, MACD = -0.003, ADX = 31.888) we are going on a short term buy, targeting the top of the six month Channel Down (TP = 0.38500).
A candle close over the 0.382 Fibonacci level, will be a bullish breakout...
1INCH/USD, is heading towards its all time lows, which is also a buying area, indicated in red.
I suggest adding in the price goes lower, as you don't know where the real bottom is.
Use proper risk management on this as well, this is really important if not the most important thing when investing.
INCUSD was making a series of LHs and LLs aligned with the concept of DOW THEORY and the RSI graph near the current price level is also consistent with the price point trend which shows no divergence. A bearish rectangle continuation pattern is also identified near the current price level further strengthening the case for a possible trend continuation.
My entry...
1INCHUSD hit today the March 1st High, over both the 1day MA50 and MA200.
The RSI is over 50.00 and the price over Fibonacci 0.5. This is a bullish continuation sign.
With the long term pattenr potentially a Channel Up, target Fibonacci 0.786 which makes an ideal Higher High.
Target = 0.75000.
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$1INCH
On a Weekly Chart
LONG POSITION -MOMENTUM STRATEGY - SWING
12.06.22
2023H +8 SINGAPORE
Disclaimer:
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
My Published Ideas are not 100% Accurate. There are many given factors at a given time that can change the...
The following are machine translations:
On the daily chart, it stopped falling and rose near 0.5. It was blocked at 0.8 and stepped back to 0.6 to get support and rebound. Currently, the third wave is rising.
The bullish trend of the indicator macd, on July 6, refused to cross upwards, and the market further strengthened. The RSI indicator is currently just above...
Adding to shorts on trigger if upward sloping channel is breached and retested.
1inch managed to keep trading in this uwpward sloping channel for aprox 12days.
if it breaks out i assign a high probability that we go back to the lows;
do what you want with it... seems to be a very low risk to reward ratio
however there could be another dip, keep that in mind
breaking ichimoku cloud, and could tap support one more time
