Pythusdt trading opportunityPythusdt is currently in a strong downtrend, forming a falling wedge pattern, indicating a potential reversal.
We anticipate a bottom around the previous low, and plan to accumulate near that zone, considering a possible double bottom formation.
The chart outlines our strategy and accumulation path. A stop-loss is crucial, as a failure to hold the current low could trigger a significant downward move.
Exercise caution in trading.
PYTHUSDT trade ideas
Pythusdt buy opportunityPythusdt is currently navigating within a potential ascending broadening wedge formation, indicating a widening price range over time.
Our expectation is for the price to adhere to this setup until it reaches the final setup target delineated on the chart. Our strategy involves buying back the coin within the provided buy area, which is anticipated to serve as a robust support and demand zone.
Notably, the highlighted resistance level represents a crucial local barrier. Should the price breach this level, we advocate for proactive action, entering positions on pullbacks towards the breakout level rather than waiting for a retest of the buy-back area.
We encourage the sharing of insights and opinions on this coin for further discussion and analysis.
All charts going Private!Hi everyone! I wanted to let you know that I will no longer be sharing public charts on this channel. After much consideration, I've decided to focus on my own trades and provide insights only to a select few in private consultations.
I realized that offering free services can sometimes do more harm than good. Without the right strategy or money management, some people end up losing money. I believe that a more personalized approach will allow me to better support those who are serious about improving their market skills.
For those of you who have followed my public charts, I sincerely wish you success in the ongoing market cycle. Remember, the key to long-term success is staying calm and patient during market fluctuations.
"The last chart posting here is PYTH its known as LINK killer"
PYTH medium term is bearishBy examining the chart data, we found that PYTH has completed a large degree pattern. This pattern is related to wave A. This pattern has lasted for about 250 days.
It is expected that wave B is also a pattern of the same degree as wave A. It means about 200-250 days.
The supply range is the best range for sell/short positions.
Note that in order to take a position, one must have a trading setup and this is only a medium-term view for PYTH.
Closing a daily candle above the invalidation level will violate the analysis
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
PYTHUSDT 1DPYTH ~ 1D
#PYTH Very confusing
Whether to buy or worry.
we will give a conclusion.
in a bull market all bearish patterns may be easy to validate or fail structurally.
Losing this Support Block will make this bearish Pattern real, or if SEED_DONKEYDAN_MARKET_CAP:PYTH manages to defend this Support Block, We will say this bearish Pattern will fail.
Alikze »» PYTH| Descending channel failure🔍 Technical analysis: Descending channel failure
- It has been moving in a downward channel in the 8H time frame and daily.
- Currently, with the failure of the channel roof, it is around the supply area and neck line.
- Therefore, in case of a negative reaction, it can be broken into the channel with pullback and touch the specified targets by maintaining the 0.29 area.
💎 Alternative scenario: In addition, if it stabilizes below the 0.29 area, it can retest the green box.
🛑 Targets: 0.39 - 0.44 and supply area or red box.
🟩 Support: 0.29
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OKX:PYTHUSDT
PYTH: Potential for 3x Gain!#PYTH has recently broken above the resistance trendline and is showing potential for a decent rally toward the all-time high range.
Accumulation Range: $0.2754 to CMP
Target: $1 (300%)
Trade Signal: Spot
Holding Period: 3-4 months
Note: Accumulate every dip possible and do your own research before investing.
Trade safely.
Regards,
Team Dexter.
PYTHUSDT.1DUpon examining the PYTH/USDT daily chart, a comprehensive analysis reveals several technical patterns and indicators that guide my trading decisions.
Overview of Current Market Position:
The price of PYTH/USDT stands at $0.3482, reflecting a decrease of 1.94% from the previous session. This movement highlights a need for careful assessment of market dynamics and potential directional changes.
Trend Analysis:
The chart displays a predominantly bearish trend over the recent months, with the price now consolidating around the $0.2303 level, which acts as the immediate support (S1). This consolidation suggests a potential for either continuation of the bearish trend or a possible reversal if bullish signals emerge.
Support and Resistance Levels:
S1 at $0.2303: A critical support level which the price has recently tested and bounced off from, indicating some buying interest at this level.
R1 at $0.4209 and R2 at $0.5094: These levels serve as the primary and secondary resistance levels. Overcoming R1 would be a significant bullish signal, likely leading to increased buying activity towards R2.
Technical Indicators:
Relative Strength Index (RSI): Positioned at 44.52, the RSI is below the neutral 50 mark, suggesting a slight bearish momentum. However, it's close enough to the midpoint to warrant monitoring for any upward movement that might indicate increasing bullish sentiment.
Moving Average Convergence Divergence (MACD): The MACD line is marginally above the signal line, albeit very close, indicating a potential buildup in bullish momentum if the divergence increases. However, the overall near-zero histogram points to a market in balance, with neither bulls nor bears fully in control.
Strategic Trading Insights:
Considering the current market conditions and technical setup, my strategy would be cautiously optimistic. The recent bounce from S1 suggests a potential for further recovery if the market sentiment improves. I would look for a confirmed breakout above R1 ($0.4209) before considering a more bullish stance. A sustained move above this level could target R2 ($0.5094), particularly if accompanied by increasing trading volume and further bullish signals from RSI and MACD.
Conversely, a break below S1 would reaffirm the bearish trend, necessitating a reevaluation of holding positions and possibly considering short positions towards lower price targets.
Conclusion:
The PYTH/USDT trading pair presents a finely balanced scenario with pivotal points at S1 and R1, which will likely determine the next significant price movement. Traders should remain vigilant, using these technical levels and indicators as key guides in their trading decisions. Adapting strategies in response to clear signals from these indicators and market movements is essential for capitalizing on this volatile trading environment.