FUN: H&S InverseFUN has formed an Inverse H&S pattern. If it manages to close a 4hr candle above the neckline, it can move up and the target is shown on the chart. otherwise, it falls twice the shoulder height.
FUNUSDT.P trade ideas
FUNUSDTAfter the hard fell of Bitcoin there might be retraces so I suggest you entering in this pair in the shown price.
FUNUSDT TriggerBTC has a resistance ahead so its probable that altcoins will have a bearish movement.
This entry is based on technical analysis.
Grab a bag of FUN!FUN/USDT has grown into this good looking range.
A nice 20-30% move could be in the cards if we get a close above .003070
FUN/USDT - The importance of the POCPOC or Point of Control is a critical level highlighted by the Volume Profile tool available on TradingView.
It highlights the level at which most volume has been traded: be that buying or selling.
What I look for when using the POC is it matching the midline - found at the exact halfway from the Entry and the Stop Loss of the setup.
On my charts, the midline is usually drawn in yellow but in this precise case, you almost can't see it because the POC is over it!
This is exacly what we want to see.
Textbook and I thought it would be worth a share.
To keep in mind, this is a second look at a setup on FUN/USDT which previously failed.
Take care,
Vlad The Crypto Trader
FUN/USDT LONG - TP 0.006141$Hey everyone!
Hope you're scanning thoroughly in the beginning of the week in case you haven't done that over the weekend.
In any case, I bring you an idea with a potential re-entry possibility - currently.
What I like about this one is the falling wedge currently forming in the last few days. That was what I first noticed when going through this chart.
That made me put the entry at the purple dotted line (this level is only relevant for this explanation nothing else) but analysing further, I realised that the setup could be already on the move and we just need some more consolidation at current levels before price expansion can occur.
What's next: Volume Profile and Fibonacci are also compliant. The only thing that is worrisome is the low volume which is 50K$ (6.25BTC) and around 20BTC traded on the FUN/BTC pairing - so have that in mind when entering at market because you might just buy up the entire orderbook.
The original setup provided a
3.67 Risk-Reward-Ratio (RRR)
and leaving a limit order @0.003437 which was already revisited once (previous major resistance on 4h), allows you to extend that to 6.76 RRR.
So, decent looking structure with low trading volume. Easy to pump but with considerably more risk than usual.
Will keep out of this one but I thought I would share for those leaning more towards swing trading as the setup invalidates in around a month (way too long for myself).
Take care,
Vlad The Crypto Trader
