1inch Recovers Above Support (300% Bullish Wave Mapped; Easy)
1inch breaks below its June 2023 low just to recover, to move back above it, to fall below; back and forth.
This is the accumulation phase.
If you notice in August, September, October 2023, as an example, 1INCHBTC did move back above its June 2023 low but still traded below EMA100 and MA200... And it continued to fluctuate within a tight range for months.
Present time 1INCHBTC produced a higher low compared to October and December 2023 and is moving back above its June 2023 low support.
What is different this time?
Won't it fall back down?
The difference is the moving averages are now all behind; price action is moving above resistance in the form of moving averages.
After a higher low, with high volume, 1INCHBTC is now moving above EMA100/50 and MA200.
This indicates that the doors are open for long-term growth.
The targets can be seen on the chart.
Namaste.
This is the accumulation phase.
If you notice in August, September, October 2023, as an example, 1INCHBTC did move back above its June 2023 low but still traded below EMA100 and MA200... And it continued to fluctuate within a tight range for months.
Present time 1INCHBTC produced a higher low compared to October and December 2023 and is moving back above its June 2023 low support.
What is different this time?
Won't it fall back down?
The difference is the moving averages are now all behind; price action is moving above resistance in the form of moving averages.
After a higher low, with high volume, 1INCHBTC is now moving above EMA100/50 and MA200.
This indicates that the doors are open for long-term growth.
The targets can be seen on the chart.
Namaste.
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