Another setup with classic bottom action behavior.
Good afternoon my fellow trader, it is easy to see that the down-move here is losing momentum. GLMRUSDT (Moonbeam) broke out of a downtrend in the form of a falling wedge and then continued dropping to hit a new All-Time Low.
This ATL has no bearish volume. The session (day) that produced the ATL ended green with a strong reversal candle. A dragonfly doji.
The main signal here comes out of the fact that the bearish move, the correction, has gone beyond 100% and has no momentum. The market moves in cycles and within these cycles we have waves.
A down-wave is followed by an up-wave. This can be easily seen by looking at several years of action across any Cryptocurrency chart. This can be seen here based on the action before the current situation.
In late 2024 Moonbeam went bullish and moved up. A bullish wave.
This bullish wave is immediately followed by a correction, a bearish wave.
After the end of this bearish wave, is now a period of consolation, the same that happened before November 2024. This new consolidation phase will end up with a price breakout, a new wave of growth.
Up and down, up and down.
Sometimes the up portion of the action is really big. That's the bull market phase.
Every few years, the down portion becomes really strong and that's the bear market.
A bull market follows a bear market. In between bearish and bullish, we get sideways. There is nothing more to chart, to analyze or to predict. After the market turns red, eventually everything changes and turns green.
To me, we are looking at the best possible entry prices, with great timing.
Expect maximum growth in 2-3 months. A correction, and then the bull market bull-run.
Namaste.
Good afternoon my fellow trader, it is easy to see that the down-move here is losing momentum. GLMRUSDT (Moonbeam) broke out of a downtrend in the form of a falling wedge and then continued dropping to hit a new All-Time Low.
This ATL has no bearish volume. The session (day) that produced the ATL ended green with a strong reversal candle. A dragonfly doji.
The main signal here comes out of the fact that the bearish move, the correction, has gone beyond 100% and has no momentum. The market moves in cycles and within these cycles we have waves.
A down-wave is followed by an up-wave. This can be easily seen by looking at several years of action across any Cryptocurrency chart. This can be seen here based on the action before the current situation.
In late 2024 Moonbeam went bullish and moved up. A bullish wave.
This bullish wave is immediately followed by a correction, a bearish wave.
After the end of this bearish wave, is now a period of consolation, the same that happened before November 2024. This new consolidation phase will end up with a price breakout, a new wave of growth.
Up and down, up and down.
Sometimes the up portion of the action is really big. That's the bull market phase.
Every few years, the down portion becomes really strong and that's the bear market.
A bull market follows a bear market. In between bearish and bullish, we get sideways. There is nothing more to chart, to analyze or to predict. After the market turns red, eventually everything changes and turns green.
To me, we are looking at the best possible entry prices, with great timing.
Expect maximum growth in 2-3 months. A correction, and then the bull market bull-run.
Namaste.
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🚨 Long-term Financial Success Available Now! (Avoid Mistakes) —PREMIUM Channels 👉 lamatrades.com (Since 2017)
🥇 9999% Results
t.me/masteranandatrades/5935
t.me/anandatrades/971
🏆 FREE Trade-Numbers
anandatrades.com
🥇 9999% Results
t.me/masteranandatrades/5935
t.me/anandatrades/971
🏆 FREE Trade-Numbers
anandatrades.com
Related publications
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.