FLOW: Oversold at SupportTrade setup : Bearish breakout from Sideways Channel ($0.80 - $1.00), below $0.80 and $0.70 support, confirmed the downtrend. However, price is now very oversold (RSI < 25) just as it reached $0.70 support and could see a bounce up near-term back to $0.80.
Pattern : Price is Oversold at Support . This trading strategy finds assets that are oversold (RSI < 30) and are near a support area, which means there's a high probability that price will bounce up near-term. Oversold conditions are typically reached when RSI hits 30 or less. Learn this trading strategy in Lesson 5.
Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum : Price is Very Oversold currently, based on RSI-14 levels (RSI < 25).
Support and Resistance : Nearest Support Zone is $0.50. Nearest Resistance Zone is $1.00, then $1.50.
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FLOW: Channel UpTrade setup : Price is in an Uptrend, trading in a Channel Up pattern. Swing traders can enter near Channel support trendline (~$0.80) and exit near Channel resistance trendline (~$1.00). Stop Loss (SL) level at $0.70 (just below the prior swing low).
Pattern : Price is trading in a Channel Up pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend : Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.80 (previous resistance), then $0.65. The nearest Resistance Zone is $1.10.
FLOW: Descending Triangle BreakoutTrade setup : Bullish breakout from Descending Triangle, with robust volumes, could signal potential bullish trend reversal with upside potential to $0.65. This is a trend reversal trade setup, not trend continuation, which carries a higher risk since overall trend is still down. Nearest support is $0.40, which held up in June and recently in August.
Trend : Neutral on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.40. The nearest Resistance Zone is $0.65, then $0.80 and $1.10.
$FLOW analysis$FLOW grabbed my attention due to its ongoing collaborations and tokenomics.
Dapper Labs, creater of Flow network takes part in the nft world and gaming on blockchain. Both being an innovating part of the digital world we are entering. Dapper Labs is also known for creating NBA Topshot.
FLOW has appeared to be part of the famous Coinbase Ventures & Animoca Brand portfolio.
FLOW long#FLOW is showing a strong bullish setup. Flow is forming a Double Bottom formation with the breakout through the descending trendline which was supported by a huge spike of volume. In case of daily close above the resistance level at 15$, bullish movement up to resistance at 28$ is possible.
FLOW Upside PotentialThis is a premium call from my Patreon Group.
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Flow is a new blockchain built for the next generation of apps, games, and the digital assets that power them.
Dapper Labs was the original creator behind Flow blockchain as well as Cryptokitties, Dapper, and NBA Top Shot. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to users around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves. Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. (coinmarketcap.org)
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