Let me start by saying that we don't ever, ever trade this type of chart... We only look at charts for trading that are very low risk and BEFORE the bullish action starts. Here we have INJBTC (Injective Protocol) after really strong bullish action. Right now resistance is being faced at the 1.618 Fib. Extension level marked with a red dashed-line. Above this...
$INJ Many alts pumping today... Trying to break out from known range into price discovery.. UCTS 1D buy flashing as 12H is already 20%+ Volume not that strong so aiming for a flip at current level as entry could be safer // Fibs levels as potential levels to watch #INJ
❕Overall Pattern Is Descending Channel ,Expect The Breakout Soon ,High R/R ✅ Targets On The Chart 🔴 Stop loss zone : 7050 ~ 7000
INJBTC is trying to have a new breakout from descending channel after a very nice bullrun. The price bounced on 0.618 Fibonacci level. IF the price will have a breakout and turn the resistance into support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly...
INJ / BTC 🌟analysis 🌟 This coin is Recently added to binance According to fibonacci next target is around 1.618 level Best buy area ...If the price retest previous support zone in chart again Good luck and happy trading 🌹
💎Technical Analysis Summary💎 BINANCE: INJBTC -A new trendline resistance is found rejecting the price -INJ is now pulling back to its previous swing support zone -If we can see a bounce reaction, a chance to challenge the 5600s sat again -But it will likely to form a triangle pattern -The best option to enter this trade is to wait for the breakout...