GALA, the end of a correction and the beginning of a new uptrend
GALA has been in a downtrend for more than two months. It is only now showing signs of a new uptrend.
What positive signals can be seen on the chart?
- A correction of more than 50% from the high
- A long consolidation
- Breakdown of the trend line
- Local formation of higher highs and lows
It is also worth highlighting that a technical pattern - a symmetrical triangle - has formed on the chart. And the price has broken through the upper boundary of the pattern, which is a positive signal for the continuation of the uptrend. According to the rules of the pattern, target = height of the triangle.
We don't know if the price can reach this target, it is important to analyze the bitcoin's performance, as all altcoins are correlated to bitcoin.
It is important to note, we did not buy or hold this coin in our portfolio. This is just a technical chart analysis at the request of our subscribers. Personally, we buy altcoins for no more than 20% of our total capital and hold our coins in the medium term. As practice shows, this is the best way to trade. We trade bitcoin using our trading indicators for all of our principal capital. You can see more details in past ideas.
Sometimes we share signals, if you want to receive them, we advise you to subscribe to our trading view and other platforms, all links below, in the comments leave your questions and the name of the coin you want us to analyze. 💚
What positive signals can be seen on the chart?
- A correction of more than 50% from the high
- A long consolidation
- Breakdown of the trend line
- Local formation of higher highs and lows
It is also worth highlighting that a technical pattern - a symmetrical triangle - has formed on the chart. And the price has broken through the upper boundary of the pattern, which is a positive signal for the continuation of the uptrend. According to the rules of the pattern, target = height of the triangle.
We don't know if the price can reach this target, it is important to analyze the bitcoin's performance, as all altcoins are correlated to bitcoin.
It is important to note, we did not buy or hold this coin in our portfolio. This is just a technical chart analysis at the request of our subscribers. Personally, we buy altcoins for no more than 20% of our total capital and hold our coins in the medium term. As practice shows, this is the best way to trade. We trade bitcoin using our trading indicators for all of our principal capital. You can see more details in past ideas.
Sometimes we share signals, if you want to receive them, we advise you to subscribe to our trading view and other platforms, all links below, in the comments leave your questions and the name of the coin you want us to analyze. 💚
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