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targetting 618 retrace of the downward move at first instance.
Daily downward momentum has turned.
Prices of last weeks serve as support resulting in a slowly but steady increase in higher prices.
If this is bullish it will likely move violently upwards at some point.
Bullish structure forming on 4H after consolidation. After retest of long term trendline.
downward moves are rapid bought up see circles;
A big vertical green candle can happen to break violently out of this structure.
This will likely result in the retest of the downward trendline.
Their we have to monitor what will happen.
The top of the downward channel was reached as I've anticipated in my previous analysis of CAKE.
Nonetheless I expected a more violent move downward (15USD) for a longer time.
The fact that this didn't materialize results in sort of accumulation pattern that broke the downward momentum.
This makes me leaning more bullish.
Once Cake manages to break out of the...
- green box: non touched prices after run up makes it a higher probability that prices will fill this gap.
- flipping current support as resistance (yellow)
- follow the current pattern in the downward trending channel (purple)
- targetting 15 usd
Chiliz had a massive run-up this year.
Despite the fundamental improvements on the project the price-action is still consolidating.
The current Support zone is already tapped multiple times and below this support is clearly an inefficiency.
The current trend in the overall crypto market is downwards oriented.
Same structure on the BTC pair, but even more...
I see some consolidation happening in the triangle before a next leg down.
Potentially up to 82USDT.
Weakness and rolling over in the orange triangle would trigger a short too.
Targetting the 1.6 extention which is the zone where this move started.
Idea from few days back: Didn't reach short target within 75USD. zone.
Axie had phenomenal run during the summer months.
Bitcoin - pair rolled over too.
The 50 USD zone will determine how fast the uptrend will resume or if we head lower first.
Red trajectory is currently more likely.
Expecting short term relieve.
First target is 1,2 extension of current range. This is at the red trendline.
If this trendline is breached, a retest of the trendline is likely followed by a next downward move.
This makes part of a bigger corrective move in terms of EW.
Target of 41cents. Starting point of current upward move.
Key reaction zone: red trendline
SLP retraced 80% from its ATH.
Previous entries below the 10cent mark showed to be very profitable entries.
The reaction is less powerful then previous tabs in the 10 cents zone.
Before entering a long position I would like to see some consolidation happening and a regain of the 10cents level.