On March 8, I published this idea on GALA, I imagined the trip from the Crucial Area a little differently, but the bull trap came out exactly on the day.
It's fun to spill out of support 6. Apr. exactly as I finished it.
I expect a possible return to the accumulation zone before switching it on again.
Gala (GALAUSD) is having the strongest 3 day rise (more than +270%) since it first started trading. The bounce came very close to the 2.0 Fibonacci extension from the first Low of this correction in January 22 2022.
However this is not enough technically to restore the long-term bullish trend and start a new Bull Cycle. In order to do so, Gala has to break the...
Watching for the continued development of the Elliott wave now that Gala has started to expand. At this time, the retracement entry zone is dependent on where the 5th wave finishes. Price action will be monitored as the candles continue to print.
Price has painted a nice gartley, and you can see this long term triangle being formed. There's actually two triangles here, and depending how bullish it is, either the yellow one will act as support, or it might try for 0.17 again, but that would be like a 50% drop, so probably not.
Fib extensions have given further upside resistances.
GALA is looking very bullish, despite its massive 80% correction. We can see that the bottom trendline has been holding since September 2021.
Assuming that the main trend line continues to hold, I've included the price ranges from where it bottomed in January 2022.
GALA is a strong contender in the Metaverse space, backed by a great dev team and founder. I...
GALA looks like it has nearly 200% upside from here after giving us a Break Hook and Go confirmation on a Bullish Dragon and springing back above an old Support level.
Gala broke out of the daily resistance, retracing and bouncing off the .618. Also touched the 4 hr order block. Looking for continuation from here.
All dependent on BTC of course. NFA
The Gala games are giving multiple indications of a sell off. The multiple timeframe OB was filled, as well as the Fair Value gap. The way I see it, the liquidation from the tripple top X has been taken; and smart money has already startet mitigating their positions from the volume profile POC
Hi All,
Like most charts now, its difficult to find an entry.
We have a 50/50 chance to go either way, just like BTC .
If it breaks below, then its worth the trade and have a tight stop loss as it could be a fake out.
Just depends how it does it.
The structure is like a reversal but one can't be sure of anything when it comes to these formations.
I did miss...
The breakthrough occurred exactly at the point I pointed out in the previous idea.
If it is valid, it can go up.
At the moment, however, the complete market is in the decisive phase of which direction to decide.
Log scale shows a massive pennant forming for GALA. If the lower trend line holds and BTC remains bullish, there is a possible bullish breakout that could be coming in the next few weeks.
Invalid if the lower trend line breaks. Major horizontal support around $.18
