Small Cap Crypto Multi-bagggers: Don't miss out! RENUSD
RENUSD got up over 7% today. It is fast approaching it's 200EMA on a daily chart and currently sits at the 50EMA.
I think many of these smaller cap Crypto's will take off once they are soon above their 200EMA and many are already.
Disclosure: I already have a parcel of CFD's in RENUSD.
What exactly is RENUSD? From coinmarketcap.com see below.
Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms.
They get paid well for their blockchain service is my understanding.
Cryoptocurrency
Ethereum's Path to $4,200: Rising Channel Signals Big MovesHello, fellow traders! I'm excited to share my latest insights on Ethereum. Let's dive into the long-term trends and what they might mean for us in the upcoming months.
Current Market Structure
Ethereum's price is developing within a long-term rising channel, showcasing a series of higher lows and higher highs since 2022. This pattern indicates a sustained bullish momentum.
Key Support Level: $2,000
This level is crucial. Holding above $2,000 suggests Ethereum may continue to rise within the channel.
A breakdown below could signal a potential shift in the trend.
Potential Price Movements
Upside Potential:
If Ethereum remains in the rising channel, there's a strong chance we could see a move up to the previous all-time high (ATH) around $4,200.
Breaking above $4,200 might pave the way for new ATHs.
Resistance and Reversal Risks:
The previous ATH at $4,200 could act as a significant resistance point.
There's a possibility of a pullback from this level, potentially leading to a "stop-loss hunt" scenario that might drag prices down to the $3,400–$3,200 area.
My Outlook
I'm anticipating movement within the rising channel towards $4,200 in the coming months. At this key level, caution is essential. Considering taking profits or adjusting positions could be a wise strategy.
What do you think about Ethereum's current setup? Are you observing similar patterns or have a different perspective? I'd love to hear your thoughts!
If you found this analysis helpful, please give it a like and follow for more crypto insights. Best of luck to all the hodlers and traders out there!
ATOMUSD - Bullish Trend - 1H TFBased on the chart pattern analysis, it appears that the price is forming higher highs (HHs) and higher lows (HLs), which indicates a bullish trend. Furthermore, the Relative Strength Index (RSI) showing divergence is synced currently. I recommend taking a long trade with a risk/reward ratio of 1:1
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Do Engulfing Candles Work? 🤨Yes Engulfing Candles work but it depnds on the context. If are at either a Weekly, Daily or 4Hr level then I will have more confidence in my entry. If not then we may just be selling into momentum and getted rekt while price goes the other way and we weep as our ego suffers. We have a minor zone at 1880 but nothing more than that, at least considering what is relevant personally. However, we have had sustained bearish pressure on the higher TF's such as the Daily/Weekly and appear to be printing solid engulfing candles on those timeframes. 1 More day for the weekly candle to close. I can observe price potentially returning to the lows for more liquidity around 1840
and going into a range. If not then candlestick patterns dnt wrk and that's why we always stick to combining confluences, and considering context before entering after a candlestick pattern. Thinking more range before we see 1942 again.
5 IMPOTANT TYPES OF ELLIOTT WAVE PATTERNS!Zigzag patterns are sharp declines in a bull rally or advances in a bear rally that substantially correct the price level of the previous Impulse patterns.
Zigzags may also be formed in a combination which is known as the double or triple zigzag, where two or three zigzags are connected by another corrective wave between them.‘
4. Flat:
The flat is another three-wave correction in which the sub-waves are formed in a 3-3-5 structure which is labelled as an A-B-C structure.
In the flat structure, both Waves A and B are corrective and Wave C is motive having 5 sub-waves.
This pattern is known as the flat as it moves sideways. Generally, within an impulse wave, the fourth wave has a flat whereas the second wave rarely does.
On the technical charts, most flats usually don’t look clear as there are variations on this structure.
A flat may have wave B terminate beyond the beginning of the A wave and the C wave may terminate beyond the start of the B wave. This type of flat is known as the expanded flat.
The expanded flat is more common in markets as compared to the normal flats as discussed above.
5. Triangle:
The triangle is a pattern consisting of five sub-waves in the form of a 3-3-3-3-3 structure, that is labelled as A-B-C-D-E.
This corrective pattern shows a balance of forces and it travels sideways.
The triangle can either be expanding, in which each of the following sub-waves gets bigger or contracting, that is in the form of a wedge.
The triangles can also be categorized as symmetrical, descending or ascending, based on whether they are pointing sideways, up with a flat top or down with a flat bottom.
The sub-waves can be formed in complex combinations. It may theoretically look easy to spot a triangle, but it may take a little practice to identify them in the market.
Bottomline:
As we have discussed above Elliott wave theory is open to interpretations in different ways by different traders, so are their patterns. Thus, traders should ensure that when they identify the patterns.
This chart is just for information
Never stop learning
I would also love to know your charts and views in the comment section.
Thank you
Big Chainlink Move IncomingChainlink has been trading in a range for over 322 days. However, despite this prolonged period of sideways movement, there is an exciting development taking place in the background. Massive bullish divergence has been forming since July 2022, when the histogram changed color.
Over the past thirteen 3W candles, momentum has been slowly building, culminating in the first ever 3-week bullish cross last week, even as the price has continued to decline. This type of bullish divergence is typically a precursor to a significant move, and the longer the buildup, the bigger the potential move. A similar pattern was observed with NOIA, and it resulted in a massive move
Chainlink's potential move could be volatile, considering that the last time it moved up from this exact price range, it gained 200% in just 20 days.
Additionally, a triangle pattern seems to have formed within the range, which is typically very bullish, especially when lower highs are consistently being made on the daily chart. A similar triangle pattern in the past pushed LINK to the top of the range, forming an ascending triangle that eventually took it much higher.
While the LINK/BTC chart has not been as hot, a break of resistance could be a positive development for LINK. Overall, this could be an excellent time to enter a long position in LINK and ride the potential move until June 2023.
✅OP: THE GOLDEN COIN THAT CAN GO OVER THE ALL-TIME HIGH✅OP: THE GOLDEN COIN CAN GO TO OVER THE ALL-TIME HIGH
very interesting times for this coin with the coming expected target of 1.50
it's a coin that has the option to break the ATH.
We did scan this coin from 0,73 as the chart shows
Give you nice boost for this chart for more updates Thanks
Polkadot $DOT Price breakdownThis is a price breakdown of BINANCE:BTCUSDTPERP based on Smart money concept in combination with Supply and demand and candlesticks.
By using the following:
- Fractals Period 2: major and minor high and lows were identified.
- Trend Change and break of structure were drawn to identify the trend.
- Supply and demands zones were identified by using reversal patterns such as engulfing candlesticks to ensure area of entries and exits.
- Fair value gaps were identified on the charts to identify future reversals.
I believe after market shift formation, Price tends to break the structure to revisits previous demands and supply zones. In this case, It is around a demand area which may indicates a possible bullish signals.
Entry and exits with stop loss are drawn.
BTCUSD:Bitcoin Something Big is cookingCME:BTC1! BINANCE:BTCUSDT
Hi , Trader's , As you can see in Graph , Bitcoin Is at Major support zone
Last 15-20 candles closes above demand zone
Price is trading in Low volume zone
As today is FED new's So expecting Big Movement
Price can shoot up and can hit the upper resistance
❤️ Please, support my work with follow ,share and like, thank you !❤️
SKL bullish rectangle ez 24 % profit if all will be ok. After the formation of the figure, the price continued to move up, you can try to buy on the spot or on futures with x3 leverage. Risk reward up to 4x
1 TP - 0.04393
2 TP - 0.04914
Stoploss - 0.03654
This is not a financial recommendation. All your actions you perform at your own peril and risk
MANA is at the peak and now for some shallow restingBased on current impressive impulse up from the dead, Mana has reached its peak, and now it is time for some rest,
Due to strong impulse up, a shallow retracement is unavoidable, and for those who yet to jump in the train, wait for some shallow retracement before entering the trade.
This is based on hourly chart, so shouldnt be that long to wait for the correction to end.
Have fun trading!
Bitcoin BTCBTC 3D chart, watch the 18.5K level
-Still waiting for the 3day SMA cross
-I am short term bullish
-Still in a downward wedge accumulation
-looking for a reversal once 18.5k is hit
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!