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Buy opportunity coming in a 2-3 weeksA major trend is depicted by an upward channel,although it's not a fully formed channel it looks like one. Prices are likely to follow higher time frame trend lines, so its likely prices will keep on dropping for the next few weeks. Once the price reaches the bottom, a trend reversal will present itself indicated a buy opportunity at key level of support and resistance. I am predicting that prices will take 3-8 weeks to reach my profit target based on historical data.
BITFINEX:EOSUSDLong
by Malume_Cashflow
Potential trend reversal run coming in 2-3 weeksPrice action broke out of the long term trend from December indicating a potential bull rally. Price has been falling in the last few weeks but I'm predicting a trend reversal in 2-3 weeks once the price touches the trend line. The dotted line shows the average path the price will travel before it reaches the trend line. Profit target and stop loss is placed at key level of support and resistance. Once the price reaches the profit target, a possible double bottom would have formed indicating the possibility of a long term bull rally.
POLONIEX:DASHUSD
by Malume_Cashflow
Potential Upward beakout with high profitabilityA strong downward trend is shown on the Daily chart. A skew Cup with handle looks like its forming (inside the yellow rectangle). Tweezer bottoms have formed on the daily after hitting a trend line which indicates a potential reversal. Profit target is a Fibonacci retracement of 50% which also happens to be a level of support and resistance, and the depth of the cup. Stop loss is placed at a key level of support and resistance on the daily chart. On the weekly chart, selling is slowing down. Enter your position in between the key levels of support and resistance in the event of a breakout. Cup with handle patterns have a high probability of reaching profit targets.
BITFINEX:NEOUSD
by Malume_Cashflow
1
Potential upward breakout (Simple and clear to understand)A horizontal channel has formed after a strong(-32 degree, -45 degrees) downward trend and price action is braking the trend line on the 16 hour chart.The 11 period EMA is starting to show signs of a potential upward trend on the 16 hour chart. There is a tweezer bottom on the weekly chart which also indicates a potential trend reversal. My profit target is a 50% Fibonacci retracement which happens to be a key area of support and resistance on the daily chart and my stop loss is below the tweezer bottom.
R
by Malume_Cashflow