**IMX |Major resistance ahead |Break it out for 580% gain**
Updated
IMXUSDT Hi fam,
Thanks for being here.
I'm sure you are experiencing a good time in crypto market these days but always remember "every uphill will end to a downhill" so prepare yourself for other side of market soon.
As you already know many altcoins recently popped up and returned good profit for all of us.
I've checked IMX chart in both weekly, daily time frame and all i can say is currently price reached a critical level of 1.3$. This is a major level for overall trend of this coin. price once made several touched to this level previously and made a deviation above that ended in rejection eventually.
regarding overall condition of market (i expect to see a minor correction) and chart it self (RSI overbought +MACD in H12 is red +BB upper boundary rejecting the price in D1+Stoch RSI in W1 is overbought).
i believe price will give me the opportunity of buying IMX around 0.9$ which is a 10% discount and of course an aggressive buying move.
0.9$ is where kij & tenk of ICHI cloud located and getting flat.
0.9$ is MA20 in W1 time frame.
0.8$ to 0.9$ are the last broken resistance and last known support for this trend.
|But why I'm buying IMX ?
Price located above MAs in W1 time frame.
MACD in W1 is green and getting stronger.
Price printed an ascending channel which give us 9$ as upper boundary of channel (sitting around fib. level of 8)
Trend broken the W1 bearish dynamic resistance trend line and closed above.
Price printed a harmonic XABCD bearish BAT pattern that will end D leg touching upper bound of channel.
There are more parameters that i checked but i will as always ask you to DYOR.
Trade active
on the way up !Note
50% up from entry and touched midline of channel. expecting cool down before uptrend continuation.
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.