Gala going?Did some grindage on the trendline from previous charts and broke out above finally. Not on the moon yet, still plenty of resistance above! PA needs to start breaking these resistances and flip them back into support. The quicker the more bullish, the longer it takes the more i would lean toward this still being in a larger corrective structure. If these resistance can not be flipped, it may tumble lower.
GALAUSD
Breaking out of the Triangle!In my last post, I anticipated a breakout from the symmetrical triangle pattern GALA has been following since the recent plunge. While nothing is guaranteed, if we can push past the strong resistance at $0.53, I think we'll be solidly moving towards a bullish reversal. (As always, BTC performance is a determining factor.)
Gala - Wave AnalysisThe metaverse has seen a lot of movement and volume in recent months. Gala has become a hot topic among the gaming world and large exchanges have added to their markets. I expect to see short opportunities open up as it appears we are in Wave 4 before heading into Wave 5 of Elliott Wave. Let me know what you think with a comment or like.
Disclaimer: *This is not financial advice. These are just ideas and opportunities that I look for in markets.*
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Symmetrical Triangle Pattern / Possible Upcoming BreakoutGala is reaching a pivotal tipping point. It has been following a triangle pattern since the recent market dip. Here is my optimistic prediction, although at this point a breakout in the negative direction is always a possibility. (Highly dependent on performance of BTC)
gala, which path to folla?Trend line holding it down! Need to break out of this channel from my last chart! It looks like the omld happened, a bit deeper then expected, but theres a possibility that sharp correction is over. Doesnt mean moon at the moment. The move down could be a subwave of a larger structure. That is the bullish interpretation. The circle could also potentially be an impulse down, which would mean a lower low. Breaking .586 would invalidate that possibility.
GALA slowly crawling up after bounce off support areaCOINBASE:GALAUSD
GALAUSD is slowly moving up after a bounce of the support area (based on ICT bullish order block) and Fibonacci retracement.
There was a company event on Dec. 6th, a vox drop with NFTs being sold in Gala Token that seems to have helped the price recovery.
Total Crypto Market Cap along with BTC are looking like they are back in the bullish mood, also hopefully we will have good news that the Omicron variant is not as severe as the Delta. That could put risk-on assets back into positive momentum. The USD is still very strong but seems to be in a sideways consolidation from Nov 30ths FED speech.
GALAUSDT : Can the double bottom completed ? In GALAUSDT 4h
It could not break out the downtrend from the 0.84128.
There is a potential double bottom under the downtrend .
If the price break out and stand firm ,trading strategy as below.
SL: 0.42496
TP1: 0.58023
TP2: 0.63761
TP3: 0.66081
TP4: 0.71059
TP5: 0.79117
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GALA bouncing off support again NFT drop tomorrowCOINBASE:GALAUSD
I know I'm sounding like a broken record on Gala, but it seems to be recovering from the crash and after this retrace is bouncing off support.
On Dec. 6th the company is having a vox drop that will use gala token to buy NFTS, so watch to see if this could cause the price to continue moving up.
Keep an eye on GALA!Here's a quick look at GALA 4 hr chart. As we can see, the price has printed a bigger symmetrical triangle and we could see a break to the upside soon. The price will probably revisit previous ATH when it breaks out. Definitely one to keep an eye on.
The best entry would be, when the price breaks above 0.58$ with good amount of volume .
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The idea is: Buy when the price breaks above 0.58$ and take profits at the levels shown in the chart.
Targets:
1. 0.615$
2. 0.66$
3. 0.75$
4. 0.84$
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
GALA: CooldownPotentially looking to enter in on GALA at the .618 if previous resistance holds as new support.
This is not financial advice. These are just my ideas and opinions.
GALA | Gaming Coin - Quite an Easy Trade!Hi,
Easy to set a stop loss, easy to set a profit target, easy to enter into it after short-term new higher high, so KISS (keep it simple stupid) and ride it, whatever it is a win or loss, the risk-reward ratio is quite good!
Regards,
Vaido
GALA: Are We Near a Bottom?After a 43% drop from the ATH, GALA could be close to bottoming out. It's possible that previous resistance at $.48 might become new support. RSI on the 4HR is low.
If $.48 doesn't hold, then expect the next support area below around $.35 - $.38.
This is not financial advice. These are just my ideas and opinions.