Gonna keep it short.
Bullish: Crab & Bat formation and ABCD exit. An inverse Head & Shoulder creating the last shoulder. We can see this token up to 0.02+ by mid-end this year.
Bearish: We might go short end of this month/Feb. If we do, we test 0.0105 again and complete a perfect H&S.
Use as reference not financial advice. Happy Trading.
RSI has been a leading indicator for SPELL since December. While 4H shows it somewhere in the lower middle, 12H and 1D both show RSI at the moving into deeply oversold territory. Other coins are showing greater strength against BTC right now, but SPELL is a young coin and as such seems very sensitive to the large caps. This also corresponds with my hopes that...
I’ve been tracking the RSI vs. SPELL all week. It’s been a very strong indicator of trend reversal, in the 2 and 4H frames. This pattern illustrated is what to look for: an RSI - Price divergence. It telegraphs the reversal. While SPELL doesn’t have enough time to see if this correlates on higher time frames, this is an excellent setup for day trades for now.
Coin this chart. Coinbase entered this wizard brother. In Earn to play category. His style is always upside down. It promises the future. Targets can be bought and sold. We celebrate together when x3 happens.
Look at this RSI Price divergence on SPELLUSD. I'm buying. Buy now, stake it on abracadabra, tell all time high, profit. A bearish divergence led this downtrend in SPELL, so perhaps this coin, right now, is sensitive to RSI signals.
SPELL is down almost 20% since it breakout to the down side.
BTC initiate current selloff on market, as usual. SPX is also down, retesting previous breakout level.
My next buy orders are at green boxes at 0.5 and 0.618 Fib. retracement. I already bought some smaller allocation.
If BTC closes under 42k we might see some massive selloff on market.
SPELLUSD (1H Timeframe)
Waiting for the upward break of 0.01640 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.01383 would cancel the bullish scenario.
Stop loss: 0.01383
Take profit 1: 0.01790
Take profit 2: 0.02040
Strategy: Bullish reversal
With an excellent performance in the last days, I decided to buy Spell Token again.
The price is moving within a bullish channel and has a lot of space to rise in the medium term, I made a small purchase and intend to buy more when I am at a better buying point.
You can learn more about the project here:
Including lending spells to do...
Heard a lot about spell on twitter but missed it every time.
Look to have broke a local high, few bull divs and had 100m in trading volume a few days ago which historically looks to be at points of momentum change.
It is also popular on coinbase which is a good sign.
Ill look to buy the .236 fib
$SPELL token is an interesting DeFi project that has landed on almost every major exchange in a short amount of time. Binance just announced listing too in late December. The chart doesn't have much history but from what we can see this area looks like prior support which will create a higher low and new base if it turns. We can also see this is the spot it has...
It looks like SPELL is inside rectangle consolidation with strong buy at 0.0215$ and sell above 0.0262$.
- strong buy at support zone (nice wick festival here) ✅
- Stoch RSI on 12h and lower time frame ✅
- nice fakeout wick which is bought up quickly ✅
- RSI breakout ❌
- Stoch RSI on D, 3D ❌
Check previous SPELL analysis before...