We are facing MKR designing the pattern called RECTANGLE BOTTOMS where the price after fall, stay in sideway (into a rectangle) for period of time before broke it in a upward movement. If you want more security in trade, you can wait the price touch the border inferior but it may not happens because the Stochastic is showing that the baseline's low is more UP now....
Possible Inverse Head and Shoulders Bottom.
Long entry with a break of the neckline with an uptrend. Price tried to break the neckline today but did not hold on. The 2nd shoulder is higher than the first which is preferable to a vice versa situation.
Possible flag forming and it would be called a Bull Flag as the pole goes up verses down like a Bear Flag...
Watching the trent from Makerdao indicates me the bodem is in.
It's time for this coin to move on if it want to remain bullisch on the long term.
The target for next few years will depent on the preformance, based on what i see now the higher high's will be made around the 10k next years.
If not this will become a very expensive bearish coin in my opinion.
No Trend is external and the chart of our Subject matter today is one perfect example .
After a bear market era crocobot says it's time for MKR bulls to take charge .
But what is going to happen exactly in this trading advice ?
1 single shot bottom fishing program signal in blue is enough for us to wish for the best and to cut the story short tp and sl zones are...
The outlook is bleak for Generation 1 DeFi governance tokens such as MKR and UNI. Regulators are coming for Ethereum DeFi protocols. Governance coins that are caught in the storm will reach dirt-cheap prices.
Maker made it onto my radar by completing the C&H with a successful neckline test. Now it looks like it may be eyeing the next LV mitigation at 1.618%. I've seen these patterns go up sharply from here. Nothing is 100% though, so be prepared to invalidate if the PA falls back beneath the automatic rally point of the range (TRS).
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After a long downwards trend, maker seems to have found a nice value area but I’m looking for a retrace short around $1k with all confluence pointing to said area for a nice short to the bottom of the parallel channel as my target.
As we can see the one day chart has shown a head and shoulders inverted formation that is only going to lead downward.... Ichimoko cloud is showing heavy selling pressure all around.
This is not financial advice, these are ideas, please do your own research before entering any trade.
looks to be triggering right now!
Weekend #Crypto PUMP?
#Bitcoin still poses risks to holders and we are still not out of the woods, a mini run to $20500 seems likely
but we must at some point hold on to the key psychological level of 20k and start making firm progress
as these high@s getting lower on the medium time frame is pushing us into...
This support is crucial for Makerdao to continue the uptrent.
This 750$ price goes whole the way back to 2018, it did not hold it there & leadet to a multi year bearmarket.
If it breaks this year below 700$ another multi year bearmarket is guaranteed.
They anyway nailed Makerdao to the ground from 6k, no words to discribe how insane this is.
Project like YFII...
Makerdao 850$ is a great price to buy!
I have bought my previous ones in 2020 during the crash around 450$, this price is only a 100% more sinds then...
Im buying more no doubt!
Enjoy those prices, you are not going to see this anytime soon no more!
Smart money is about to enter the space 👍
A little lopsided
But the bottoming principle of the pattern is still evident
Could be an accelerative move incoming.
Post #LUNA and #Celsius #Defi has shown considerable strength
And looks to continue upwards.
Defi and cefi are future roles for crypto post reset
Maker Dao- the algorithmic dai stablecoin and the Maker token represent probably the safest defi ecosystem
Whilst a terra-luna repeat is not unfathomable- if you are looking for a defi bet this is probably it
There are some rumblings regarding the usdc stablecoin and some links to maker
Whilst i wouldn't...
Maker (MKR) will need to hold a major level of support at around: $1050.00. Any daily red candles that close bellow this level will be a concern, therefore pushing us further down to: $855.00 level. Not much support bellow the current level of support resulting in a -20/-30% drop! In order for Maker to remain bullish; will need to see a green daily candle close...
MKR is forming a possible bullish continuation pattern, and it has the most bullish DMAs in the entire market. If it can stay supported in this zone, there is a small chance in a fast continuation to the upside as demand piles in quickly. I give this about... a 5% chance of playing out, but it's worth looking at. If it breaks to the downside, targets are listed...
Follow up my to my last Video on April 7th.
I cover #BTC.D & #Total2
#stablecoins #USDT, #USDC dominance
Crash season looming September/October
#PlanB #Bitcoin Maxi's and #HEX
Looks a good setup.
Head & shoulders, over a 90% fall from grace from this Bull top.
Retested resistance after the #UST / #LUNA debacle
Attacks on stable coins will continue, even over collateralised stables like #DAI