Hello Traders and Investors,
MKRUSD is showing a very bullish setup. It broke above a resistance and is forming a new major support. If this continues to hold, a big move towards ATH will be very likely. This move will be a 100% gain, even more if entry is right on the major support.
$MKR has officially backtested the break out of the falling wedge consolidation here. This is a daily play and may take some time, but i do think mkr will have its day. Low risk, stop can be adjusted on a smaller time scale to taste, but 3:1 is easy to do here.
An idea for MKRUSD
As you can see on the fib circle multiple supports have been claimed on the way up to the formation of this bullflag / symmetrical triangle
Price is also supported strongly by this blue MA line, which has previously been a strong level of bullish rejection
Arrows placed show the transition from the bears dominating to the bulls
ON TRACK WITH OUR TARGET AREA OF VALUES
1522H +8 SINGAPORE
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.
VITAL SIGN A-OK, WE WILL FINISH THIS SWING.
MAKING A MEASURED MOVE
The Market has amazingly moved along the TOPS and...
My thoughts on the current state of the crypto market is bullish as BTC keeps on reclaiming at 60K. All breaks below 60K have been bought up rapidly, leading me to my bullish case for MKR. MKR is at a great risk to reward ratio. it has currently been consolidating between a 2650 and 2250 channel for an entire month, a...
Not too sure on future counts as to what larger degree we're in due to lack of data > but over time it will become more obvious, As for the correction on this it may be over but also not sure on that however the easy play is to probably just long the trendline break and assume we're going up for some time and making new highs.
#MKR maybe worth it to add this coin to your Watchlist. 👀
add to watchlist means the coin we mentioned is forming a pattern or moving near a historical bottom, around or above good support, increase in trading volume , showing a reversal candle, accumulation stage, etc, but no reaction from bulls, so we inform you to add it to your watchlist until the right time...