CWARUSDT at monthly support, likely to bounce and head upward This one is an interesting case. The price rallied strongly after the low it made at the beginning of last quarter of 2023. However, the rally was stopped by monthly resistance MR1. Although after getting rejected from that MR1 zone, the price again made an attempt to go beyond that resistance but failed to do so. That resulted in the price to continue its downward journey and reached once again to the level where it had reversed. This zone is now a monthly support zone and is likely to provide support to the price. The price is likely to bounce upward from here. However, this asset may have some liquidity issue, therefore one has to be extra cautious while trading it. But I see a good risk reward ratio here if volume returns and more people get interested in this asset due to the current level and opportunity of a significant bounce.
Cwarbuy
CWARUSDT READY FOR WAROur previous idea did not come true because of BTC. However, it caught a rapid rise with the strength it received from the support and broke the falling trend, even testing it back. I think it's unstoppable now.
CWAR/USDT Falling Wedge Pattern (4H)CWAR/USDT 4H
Current Pattern:
Impulse Pattern:
Correction Pattern:
Currently close to breakout point very soon, maybe now or tomorrow!
RSI showing bullish divergence, point (C) should make a lower low on the chart and higher low the RSI then we are good to go.
My technical analysis spans since the release of the CWAR token and the previous part of the chart shows an uptrend Elliot Impulse wave (12345)
then converts into an ABCD pattern into another Elliot Impulse wave (12345) with a weak 5, forming a Falling Wedge with Triple Combination ZigZag (WXYXZ) correction pattern.
Basically Elliot's Theory states that an Elliot Wave or ABCD pattern is followed by a correction into a new Elliot Wave or ABCD pattern over and over again on all timeframes.
Remember this is a theory and doesn't always playout it's an idea.
Not financial advice.
CWARUSDTJust bought a small bag of CWAR from $2.25.
When it reaches my random target, I will get out with my initial money while I hold the profit for long term.
This strategy has worked for me with several tokens.
NFA
DYOR
