✴️ Injective | Multiple Signals: Technical Analysis 101
Updated
This is something already of the past but still good for learning.
Good evening my fellow Cryptocurrency trader, how are you feeling today?
Please allow me a few minutes of your time to entertain you.
You know, each time, each phase, each period, on each cycle... there are always many signals that we can use to our favor, in whatever way we need.
These signals and tools are many and varied, are always right and they always work. Only our own interpretation can fail at times.
The data is always right.
The next market move is always there, present, visible on the chart; What we conclude on the other hand, belief or say can be anything. Our interpretation can vary. The data will always remain the same, before and after the event.
The chart speaks, it has things to say.
Injective hit a peak 11-November 2023.
A higher high hit 24-December, same year, more than 135% higher.
There was also a peak in July and if we compare this one to November we have about 95% growth between the former and the latter.
When you consider the latest "higher high," the new ATH hit 14-March 2024, we can see that it is only a little over 15% higher compared to Decembers high and this after months of consolidation.
Immediately after the new high is hit we also get a rejection and the action moves back below Decembers peak price.
I am sharing this to say that here we have a technical double top and/or a bearish signal within a bullish phase/trend.
We can couple this with volume and other signals as well such as the duration and size of the rise to support what we are seeing but this should be enough for this learning article.
This information just helped us define a strong resistance zone.
"Sell at resistance, buy at support."
Not that Injective is guaranteed to go down or up or move in a certain way, no! Instead, the chart is showing some bearish potential supported by many signals and this can be used by those who read, those who write and those who trade.
If additional information is needed one can always zoom out and use the weekly timeframe and see the ATH and bearish weekly session. Market correlation with other pairs can also be useful.
We've been tracking this one for a while now... The chart hasn't change in months.
Once we are done going down, we will resume back up.
We can have a period of a few weeks or months of correction followed by a long-term bull-market growth.
Thank you for reading.
Namaste.
Good evening my fellow Cryptocurrency trader, how are you feeling today?
Please allow me a few minutes of your time to entertain you.
You know, each time, each phase, each period, on each cycle... there are always many signals that we can use to our favor, in whatever way we need.
These signals and tools are many and varied, are always right and they always work. Only our own interpretation can fail at times.
The data is always right.
The next market move is always there, present, visible on the chart; What we conclude on the other hand, belief or say can be anything. Our interpretation can vary. The data will always remain the same, before and after the event.
The chart speaks, it has things to say.
Injective hit a peak 11-November 2023.
A higher high hit 24-December, same year, more than 135% higher.
There was also a peak in July and if we compare this one to November we have about 95% growth between the former and the latter.
When you consider the latest "higher high," the new ATH hit 14-March 2024, we can see that it is only a little over 15% higher compared to Decembers high and this after months of consolidation.
Immediately after the new high is hit we also get a rejection and the action moves back below Decembers peak price.
I am sharing this to say that here we have a technical double top and/or a bearish signal within a bullish phase/trend.
We can couple this with volume and other signals as well such as the duration and size of the rise to support what we are seeing but this should be enough for this learning article.
This information just helped us define a strong resistance zone.
"Sell at resistance, buy at support."
Not that Injective is guaranteed to go down or up or move in a certain way, no! Instead, the chart is showing some bearish potential supported by many signals and this can be used by those who read, those who write and those who trade.
If additional information is needed one can always zoom out and use the weekly timeframe and see the ATH and bearish weekly session. Market correlation with other pairs can also be useful.
We've been tracking this one for a while now... The chart hasn't change in months.
Once we are done going down, we will resume back up.
We can have a period of a few weeks or months of correction followed by a long-term bull-market growth.
Thank you for reading.
Namaste.
Note
We have a complete breakdown of the structure and the bearish move is now fully confirmed; here is the chart: Notice that support is found exactly at 0.618 Fib. retracement.
We are likely to experience a bounce here followed by a test of lower support. This is based on the high volume and strength of the move.
Note
Support continues to be challenged, something similar to what we saw with Chainlink... ➖ Trading volume patterns support lower prices.
There can be a small bounce before lower because support was challenged recently; this is only a possibility as the bias is bearish and likely to intensify in the coming days and weeks.
➖ We still have to experience one last major flush before the bearish period is over.
Thanks a lot for your trust and amazing support.
You are divine... And always appreciated.
Namaste.
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🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
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