#KEY/USDT WEEKLY CHART UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this KEY/USDT update from Crypto Sanders.
Chart Analysis everyone, what are your thoughts on the chart? Please share your comments regarding the KEY weekly update.
KEY has broken out and confirmed its strength through a successful retest. Prepare for an imminent pump.
MA21 continues to provide significant advantages.
I have tried to bring the best possible results in this chart.
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Thank you.
Keypoints
SPX: In a "No Man's Land"! But for how long? 🤔• The index hit our resistance at the 21 ema, and it couldn’t break it;
• On the other hand, the 3,818 is a key support area, which is preventing a further drop to the 3,744 (next technical support level, green line);
• As long as the index remains between these two key points, it’ll be in a “no man’s land”, moving erratically while we don’t see any good technical breakout indicating a possible bullish reversal or bearish continuation pattern;
• There’s another key point at 3,911, which did work as a support/resistance multiple times since July 2022. If SPX breaks this key point, it might easily retest the 4k again, possibly breaking it;
• The 3,744 plays a similar role, but to the downside, as if the index loses this key point, we might see a continuation of the bearish sentiment to lower levels;
• For now let’s keep these key points in mind. I’ll keep you updated on this.
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SPX: Most important key points UPDATED.Hello traders and investors! The SPX is moving accordingly to the plan, but we have some new key points to work with.
It did a lower top, and it must break the purple trend line as soon as possible, in order to become truly bullish again, and to fill its previous gaps. We have two open gaps, and the one at 4652 is the target of this bullish structure.
Yes, the support at 4453 (blue line), is still our main key point, as if the index loses this line, it’ll cancel the bullish bias seen in the 1h chart. I’m not saying it would work as a bearish reversal, but it would weaken the bull trend for sure. What’s more, the 4453 coincides with the 38.2% retracement in the daily chart:
This point is truly important, and if the SPX is seeking higher levels, we must not lose this price level. Otherwise, we could drop all the way down to 4370 again (61.8% retracement).
For the short-term, let’s focus on the purple line in the 1h chart. If we break it, we’ll have decent chances of filling our gaps. I’ll keep you guys update on a daily basis.
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Uptrend expected after correctionClosing the last day with a red candle coincided with breaking the steep slope trend in 4h. As the result of this, I'm waiting for the price to drop to $65 to $70 zone. Any abnormal pin bar or bullish candlestick pattern in the buy zone will trigger my buy signal. Hereby, $248 will be the stop loss, and $320 and $332 will be my 1st and 2nd targets, respectively.
There is another possibility, the price crosses the $300 level without correction and stabilizes there. If it happened, I will update the idea.
The support and resistance levels and pivot points are drawn by the Trend Key Points indicator.
Trend Key Points Guide And Best PracticesTrend Key Points indicator is a side tool for traders to specify the pivot points and key levels in trends. You can use this indicator in different ways, but I will tell you my own way. I got excellent results by going this way; I hope it will be useful for you as well.
Each trend has its high and low key points that are important in the next prices. Sometimes it’s hard to find out the points with a naked eye, this indicator marks these points and draws support and resistance lines from previous critical pivot points .
The indicator draws the last two support and resistances of the price by default but you can adjust it in the options. The best practice would be to include the levels drawn in the upper time frames in small timeframes.
I’ll explain it with an example. Let’s say I’m trading in the 4h timeframe. Starting from the above timeframe, I specify the key levels to the target timeframe I mean 4h. Assuming that the monthly levels are important in weekly, daily, and 4h timeframes. The weekly levels are important in daily and 4h timeframes and the daily levels are important in 4h timeframe.
Notice that I don't just settle for the levels drawn by the indicator, and I draw the flat and oblique trends I see myself.
If the key levels do not exist or are far away from the current price in the above timeframes you can rely on an important key point near or a level you think it's important. (w1 and w2 level drawn by myself from a key point)
If the level of higher timeframe overlapped the lower one, the level gains more importance.
After drawing multi-timeframe levels and trend lines, I’m going back to the 4h timeframe and I am looking forward to important price movements to be made at the drawn levels.
Which moves are important to me?
- If a new pivot high or a new pivot low appeared in the key levels or important trendline, I expect a return from there.
- If a new pivot high or a new pivot low appeared in the key level or important trendline and the volume confirmed the pivot, I expect a return from there. What I mean by volume confirm is that volume is greater than the volume itself. Volume confirmation means that the volume is bigger than the volume MA (20 in my case).
- If a candlestick pattern appears at the key level, the pattern will gain more importance. I use Abnormal Pin Bar and Common Candlestick Patterns Indicators for this.
Also, the indicator measures the length of each trend and calculates the average length of recent trends (15 by default). I named it movement step length (MSL). I use this info to predict the possible length of the current unfinished trend .
Usually, the length of the next trend is greater than the average length of the last trend specified by the indicator. Knowing this prevents me from exiting the unfinished trend early, which is quite possible when I'm nervous and have suspicions about the position.
I think the best part is that you can set an alert for the new key point crossing a price level. so you will not have to wait in front of the chart all day.
I am open to any improvement. If you have an idea or a suggestion, don't forget to leave a comment. Any feedback will be appreciated 😊
My Plan to reach up my targets on Litecoin!!!Litecoin it's so bullish toward the bullish trend toward the $417 USD, that was the maximum price.
But this it's an overview of the macrotrend in Litecoin if you're a holder, investor or you want to find out a plan to trade Litecoin. So, most possible it's to select to trade Litecoin and also Dash to trade it and going to earn money in these crypto in my Quantfury App to continue accumulating Ethereum. I'm don't have Litecoin as investment, but maybe I considered just to bought 25 LTC to save as investments. I like the characteristic that have Litecoin to become a kind of money as equal Bitcoin, Dash or Bitcoin Cash together. But Litecoin it's good and have characteristic to become a kind of money to save our value and store in your wallet.
But looking this monthly chart, we still so bullish in Litecoin and I have a proyection toward the $2,500 USD approximately. But I believe that if I invest in Litecoin just bought 25 LTC that in average have a cost of $3,200 USD, maybe my own return could to grow up. But the best plan it's just accumulate or trade cryptocurrency to earn our money in Ethereum or Bitcoin to then, selling for Litecoin. that can be my strategy and not bought with my money, did you know, with Ethers or satothsis meanwhile I continue accumulating!!!