- TVK/BUSD was bounded in the descending channel.
- The market brokeout above the descending channel resistance.
- This is a bullish signal.
- You can buy now or wait for a short term retracement.
- Horizontal resistance levels (@0.4158 and @0.4958) are your targets.
With a Q4 bull market on the road, this might be one of the good pumps to be expected. There is no confirmation till the breakout though don't gamble. Either wait for the breakout or the retest to manage your risk.
Bullish patterns printed on the dips since a week and we are oversold on momentum. With a little bit of volume TVK can surprise the market.
Keeping it simple here - TVK is trading beautifully within this channel and has been consolidating for weeks now. Based on previous moves we know how hard and fast it moves so buckle up is all I'm going to say for now.
Please manage your risk - this chart is just my opinion. Be sure to arrive at your own conclusions and trade safe!
The area of $0.24-0.25 is proving that it is an important support area for TVK at the moment when the price has just approached this zone, the price has increased strongly again. Let's accumulate as much TVK as close to the $0.24 zone for targets at $0.32, $0.4 and $0.48. But if TVK loses the $0.24 zone, it will fall back to the $0.20 zone
Hope your are doing well this days.
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Check it out,
This is no a trading advice,
It's pretty self explanatory really..
- clear EW counts
- strong prior volatility with volume
- near 45% correction from last high
- held 0.618
I'm targeting 0.65+ for this next wave.
Trade safe, manage your risk, take profits.