CRVBTC trade ideas
CRV / BTC - Yet another Inverted Head Shoulders Forming?Just an idea, it's happened 4 times now with this token, can we do it a 5th time? Ask BTC for permission ;)
Previous related ideas linked below - also posted another idea earlier today (W shaped recovery), channel already invalidated, but something like that may play out also.
Alternatively, we head down further and this was not a real bottom.
CRV / BTC - New Idea - CRV in W Shaped RecoveryHere's a new idea after following the inverted Head and Shoulders move:
We have formed an uptrend, this is our new channel, movement within the channel may look something along these lines (pun intended), and if so - it'll be incredibly profitable.
Alternatively, if we continue downwards from here, it's possible we form a double bottom on the longer time-frames.
CRV/BTC (Test the Upward Trendline Support?)CRV/BTC
-The price got rejected by the upward trendline resistance around 4700 sat
-It is more likely to come down and test the green support area at 3200 sat
-If CRV will continue its uptrend movement, the next target is 5500 sat
-Candle body below green support will invalidate my short term Bullish bias
CRV / BTC - Update II: Inverted Head & Shoulders / Triple BottomInverted Head / Shoulders / Triple Bottom confirmed, we broke the neckline for the HSi and for the triple bottom move, and hit both targets 1 and 2.
We're currently testing the 0.5 fib from today's move. If we get passed the green box where target 2 was, we can expect potential for a much larger move up.
Zoom out to see long term fib levels for potential targets. 58k sats is a good first target if we can confirm a move beyond the green box. Higher is possible 90k sats and beyond.
If we break below the 0.5 fib on the smaller timeframe (that we're now sitting at), we could re-test the dashed yellow line. We need to stay above that line for continuation.
** please see previous related ideas in the links below, thank you for your support, and please DYOR & beware of Bitcoins ability to move and mess up even the most reliable of charts/setups! **
$CRV, Crossed over 40k sats level w/ UCTS Buy signal on the 4H $CRV
Crossed over 40k sats level w/ UCTS Buy signal on the 4H chart..
Volume is flowing in & is trying to flip this level into support..
Potential continuation from here toward ~46k/52k/🌕
#CRV
CRVBTC entry pontCRV is a hyped project recently launched creates W pattern with good entry point in fibs.
CRV / BTC - Update: Inverted Head & Shoulders / Triple BottomCRV has triple bottomed and is in the process of forming a giant inverted head and shoulders, and has already formed 3 smaller sets of inverted head and shoulders within that pattern.
Need to break above dashed yellow line (1) for confirmation, and break above the green box (2) to see a mega-move.
As mentioned before, Curve Dao has also been hovering between 0.04-0.07 Market Cap / Total Value Locked, whereas comparable Defi tokens (Comp, YFI, etc) are on average more like 0.4-0.7.
YFI is an outlier today and in pure FOMO mode, so its MC/TVL is much higher (haven't checked). You can check yourself here, CRV is currently at 0.07:
www.coingecko.com
Everything said, please beware BTC, it's likely going to make a decision soon, and can screw up even the very best of setups.
CRVBTC - Long - Potential 39.02%CRVBTC - Long - Potential 39.02%
Entry - 3073
TP1- 3464
TP2 - 3787
TP3 - 4283
SL- 2354
Please comment with thoughts and how you get on.
If you like the idea, then hit like on the idea & support with a follow.
Good luck out there!
INVERSE HEAD AND SHOULDERS REVERSAL PATTERNAfter a massive plunge in price, CRVBTC seems to be gearing up for a push-up with this inverse H&S pattern on the H4.
CRV/BTC (Potential Inverse H&S Pattern?)CRV/BTC
-This coin is back at previous trading resistance
-It is also testing the 50MA dynamic support area
-Also, the Golden Fib is confluence on this region
-Take note as well of the potential Right Shoulder Pattern
-If this level will hold and if we see a bounce up reaction
-The chances of an Inverse H&S pattern will start to develop
-This is a high-risk trade if you are starting to scale in
-But the reward would be high if the pattern breaks bullish
-Please use proper risk management especially on size allocation
CRV / BTC - Inverted Head and Shoulders may still be in playIt hasn't reached the same peaks and valleys drawn, but it's still following the pattern drawn at this point. May drop down to bottom of right shoulder before heading up. Breaking below that invalidates the setup. If we form the right shoulder, we may re-test recent highs. If that occurs, a break above recent highs sets this up for a significant move.
CRV token rewards from farming on the crv dao website are not being dumped nearly as much as they were when this first launched. To the contrary, many tokens are getting locked into defi programs. There is potential for this to make a very significant move, especially if we catch up to comparable defi tokens' MC/TVL ratio, which has been somewhere between 0.04-0.06, as compared to tokens like YFI and COMP which have been 10x that at 0.4-0.6.
See data on Marketcap / Total Value Locked here (can also search for YFI and COMP for comparison):
www.coingecko.com
CRV / BTC - Bull Flag FormedCRV / BTC - CurveDAO has formed a bull flag after reaching a bottom.
Also, a while back I posted an idea that we might form an inverted head and shoulders
before making a stronger move. Let's see if they play out.
Be wary as this is a new token with not much history and anything is possible, also beware BTC as always :)
CRV/BTCdo your due diligence, undervalued ,3rd in defi space. Don't fomo yourself but one of the best hidden gems to grab on until January 2021. 2% daily lock up increase will overcome Maker in no time and take it's spot.
