Bullish continuation: next leg upChart description:
Seems like breakout about happen after some accumulation;
Potential wave up - targets laid out in chart
CKBUSD trade ideas
Crossroads: Potential last wave up (C-wave)Chart description:
ABC correction - C wave (final 5th wave)
RSI trendbreak (confirmation 1)
MACD - move down to zero-line (confirmation w4)
MACD - Zero-line reversal (upward) + signalcrossing would confirm 5th
Waiting for price to make a higher low (HL) in which price moves above previous high (see previous flag indications)
CKBUSD Major bullish break-out. Expect more upside ahead.Nervos Network (CKBUSD) broke this week above the 1D MA200 (orange trend-line) for the first time since June 17. This is a major bullish break-out signal as every time this happened historically after a Lower Highs trend-line break-out, the price in 3 cases made a new High and in 2 reached at least the 0.85 Fibonacci retracement level.
As a result, we expect a strong bounce on the 1D MA200 to target at least 0.02900.
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Nervos NetworkMy view on the Nervos Network for the few coming months.
I expect a new low below $0.002
CKBUSD This rally isn't over yet.Nervos Network (CKBUSD) has been having one of the most successful rallies since the start of the year among high cap tokens and broke above its March consolidation last week. That was the 2nd bullish break-out after the ATH Lower Highs trend-line break-out on the week of February 19 2024.
Last week we had a successful hold of that former Lower Highs trend-line for a second time, which turned it technically from a Resistance to the new Support of this uptrend. An uptrend which may be on an overbought 1D RSI but, as per the parabolic rally of the previous Bull Cycle, it may extend to at least the 1.5 Fibonacci extension. We are expecting 0.08000 minimum in the next 5 months.
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CKB/USDT - Weekly ChartCKB recently breached a descending trendline and has effectively confirmed this breakthrough with a successful retest. Presently, price is retesting a significant support zone, where it previously got rejected four different times (indicated by green upward arrows).
Observing the chart, an inverted Head & Shoulders pattern is taking shape. Our anticipation is for the price to ascend towards the pattern's neckline, approximately at $0.0057, and eventually reaching our target at $0.0156.
✴️ Nervos Is Both, Early & Bullish (165% - 288% Potential)If you are looking at Nervos then you are lucky or wise for making this choice.
Nervos (CKBUSD) is both early in its cycle and also bullish.
First, notice the November 2020 low. Nervos currently trades above this level which goes in favor of the bulls.
The next detail is the Inverse Head & Shoulders pattern or simply a pattern of 3 drops to seal a low/bottom before a change of trend, this is extremely common.
These two signals are enough.
As long as the Nov. 2020 support holds, you can be 100% bullish.
Even below this level the bullish bias remains but mid-term.
Patience is key and feel free to leave any questions in the comments section.
Namaste.
