Search
Products
Community
Markets
News
Brokers
More
EN
Black Friday sale
Up to 70% OFF
Community
/
Ideas
/
FORTH - Ready for a breakout! Channel + Elliott wave
FORTH / TetherUS
Long
FORTH - Ready for a breakout! Channel + Elliott wave
By UnknownUnicorn2537518
Follow
Follow
Jul 13, 2022
1
7
12
12
Jul 13, 2022
On the daily chart, we can clearly see a descending channel / falling wedge, which is ready for a breakout!
Buy a breakout above rectangle + 200 MA + trendline of the channel, we have a nice confluence here, that is very important!
This coin never made an all time high, so it is safe to set the profit target to 0.618 FIB + end of the wave 4 (High liquidity area).
Due to my Elliott wave analysis - Impulse Elliott wave has been completed successfully and we can expect at least a retracement.
200 daily moving average is considered as a massive level by huge instituions and hedge funds.
We have a high bullish volume and I don't see any bearish pressure on the indicator.
If we take a look at the RSI indicator, there is a horizontal level, so if we break this level, that would be great!
Look at my ideas about interesting altcoins in the related section down below ↓
For more ideas please hit "Like" & "Follow"!
Ascending Triangle
Bearish Trend Line
Bullish Rectangle
Descending Channel
Elliott Wave
Falling Wedge
Fibonacci Retracement
FORTHBTC
forthusd
FORTHUSDT
Support and Resistance
Volume
UnknownUnicorn2537518
Follow
Related publications
SiaCoin SCUSDT - Breaking out! Falling wedge + Triangle
by UnknownUnicorn2537518
Trust Wallet TWTUSDT - The most bullish altcoin + Triangle!
by UnknownUnicorn2537518
Stellar XLM - Prepare your buy orders! + 0.618 FIB + Wedge
by UnknownUnicorn2537518
Voyager VGX - Downtrend is over! Impulse completed + Record VOL
by UnknownUnicorn2537518
Quantum QNT - Daily channel is ready to break! + Elliott wave
by UnknownUnicorn2537518
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.