". There is a possibility of temporary retracement to the suggested support line (2.191).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. CRVUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
The following content is machine translation:
The 4-hour chart rebounded on 5.12, met resistance near $1.6 and stepped back, found support near $1.25 and rebounded again, forming lows and sub-lows, and continued to be bullish in the short term. Look at the short-term resistance near $1.6, and break through to see near $1.85.
What's up fellas? Why you generating so much SLP !?
Let's check CRV chart but first let see what is CRV at all
CRV is the governance token for Curve Finance. It implemented a complex time-based staking system to exchange CRV into veCRV, where veCRV is an internal token intended for governance purpose and has a right to claim the cash flows generated by the...
Price is previously got rejected from a 4h supply zone and it is currently testing a 4h demand zone which it is bouncing off. MACD is not clear, RSI and EMAs are both neutral. If we get confirmation on lower timeframes, then price should be able to move up from here aiming towards the 4h supply at $2.57 also filling the FVG (fair value gap) around $2.55.
This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info
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Entry triggers: 3 waves in parallel lines (abc)
Entry: market price
Like with any other trade, due diligence is advised.
I see about 3 scenarios that might happen here, but the most likely is the one illustrated. The waves could be 1-5, with 1 and 2 slightly below the parallel lines and abc become 3-5, either way, the next move should be to...