Falling Wedge (Pyth Network): Target Price $0.55This looks to me a lot like a falling wedge, which is a bullish pattern. Being as how they retrace to the beginning, it's potential target price would be .55 cents.
PYTHUSDT trade ideas
Pyth respecting fib extensionsLike some other newer to CEX tokens, PYTH seems to be respecting fib extensions. These are pretty hard to chart since they are so new. The chart history is small and the token did launch at a rather large market cap. Volume has dropped harshly as well as RSI, cool offs are good for consolidation. The token did break the multi day downward trend dawn with the red line.
Since I believe we are entering a bull market, this wont matter, but the fully-diluted valuation is obnoxious (5.2billion$). So if all tokens were released the network would be valued at 3 billion less than chainlink's link token. Im going to go out on a limb and say this is overhyped value wise, but you cant use traditional valuation techniques to value crypto especially during upward momentum. This solana based token will likely climb upward with how positive the sentiment is around it. The oracle solution serves many blockchains including arbitrum(one of my favorite), optimism, bnb and more. I am bullish on this token short and medium term for that reason. I think we see another shot at .5 in the coming days, .47 is my official first target.
Pyth - Next Leg Up Incoming!PYTHUSDT is showing signs of rejection at the fibonacci levels of the previous leg on the 1H timeframe which could mean that the pullback may be coming to an end.
I'm buying PYTH around that levels, but will add more after the descending trendline breakout.
Inverse head and shoulders. There's a decent chance this is just a inverse head and shoulders and we could be seeing .47 cents soon
Dynamic Square of 9 and local boxThe chart on the left represents the square of 9 levels - dynamic - with selected top at the recent local high projecting downward. Invalidation would most likely be above the 2/1 Gann fan line.
The chart on the right is the local box, that if it holds should be interesting to watch and trade imo with keeping in mind that the invalidation is pretty close lower.
PYTH 15/30mins unmitigated bullish OB ( Order Block)PYTH looking to liquidate the buy side before another leg up
Wait for entry below and take from there…. There is unmitigated bullish OB on 30mins TF….
Don’t get induced by longing PYTH from here
Wait for entry and take from there
Follow for more market update and trade setup
PYTH CHoCH to downsidePYTH did a really good run to upside but as we can see
PYTH did a liquidity grab to the upside this more by creating CHoCH but later did CHoCH to downside which makes it obvious downside is the movement…..
Wait for retest of the entry price and take a good short from there
Manage your risk
Follow for more trade setup
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Chart: I will follow / trade the channel and be prepared for everything!
One Love,
The FXPROFESSOR ♡
PYTHUSDT.P Risky and Worthy1-Apply your own risk management.
2-Daily and Weekly Targets
3-Hunt the profits at any level you see convenient for you.
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