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#SPELL/USDT 1D (ByBit) Faling wedge breakout and retestSpell Token regained 50MA support and is pulling back to demand zone where a bounce towards 200MA resistance seems likely. ⚡️⚡️ #SPELL/USDT ⚡️⚡️ Exchanges: ByBit USDT, Binance Futures Signal Type: Regular (Long) Leverage: Isolated (2.5X) Amount: 5.1% Current Price: 0.000433 Entry Zone: 0.000434 - 0.000406 Take-Profit Targets: 1) 0.000499 1) 0.000558 1) 0.000617 Stop Targets: 1) 0.000354 Published By: @Zblaba $SPELL BYBIT:SPELLUSDT.P #SpellToken #MIM abracadabra.money Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0 Expected Profit= +47.0% | +82.1% | +117.3% Possible Loss= -39.3% Estimated Gaintime= 3-9 weeks
Long
by TradingOn
Defi Token Pump $spell hasn't pumped.Defi Token Pump $spell hasn't pumped. Falling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation.
Long
by Crypto-Adda_Official
SPELL - The Bullish Play SPELL has had relative strength lately and I feel nobody really noticed. Unless you zoom in down to current PA, it won't look like it has done much recently. That is not the case, SPELL has: - Broken out of two resistances (indicated in "breakout" and "s/r") - Flipped a key S/R level into support, thus breaking bearish market structure - Is developing a descending wedge (typically bullish) - Trading inside the current mid-range, not having broken the EQ as support, yet I try to ignore all those nasty wicks as random deviations, sometimes they can be helpful but I mainly try to stick to the candles for my key levels. If the market continues to see strength here, I imagine something like this playing out imo. A break below mid range and fakeout of the descending wedge to the bottom band of the range where our bullish order block remains, then a bounce and I'd target at least the upper band of the range and potential breakout if this rally is to continue. Just an idea, invalidated on a break below range low (bullish OB). Cheers!
Long
by cryptovatsik
SPELLUSD strong bullish break-outThe Spell token (SPELLUSD) has recently broken above the Channel Down pattern that it's been trading in since December 27 2021. Yesterday it made another big bullish break-out as it broke above the 1D MA100 (green trend-line) for the first time. Ideally we would like to see a 1D candle close above it and the 0.382 Fibonacci retracement level as well but with the 1D MACD invalidating a Bearish Cross that was previously seen on the Channel's Lower Highs, we expect this to be the decisive move to start a long-term bullish trend. We are targeting the 1D MA200 (orange trend-line) on the short-term. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FTX:SPELLUSDLong
by TradingShot
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