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Reef / Tether

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REEFUSDT trade ideas

REEF - Buckle Up!REEF is overall bullish, trading inside our blue channel. and since it is currently sitting around the lower blue trendline, we will be looking for trend-following buy setups. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? Our upper red trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, REEF would be overall bearish (from a short-term perspective) and can still trade lower. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
RLong
by TheSignalyst
30
REEF/USDT - Neutral / Both waysAs I'm quite new to bull markets, these movements have surprised me several times. In this TA I'm looking for potential breakouts, to the upside as well as to the downside . While I'm a bit bearish on REEF due to the lack of major updates from the project, I'd like to stay neutral, looking at the current chart. Perhaps my personal expectations for REEF were aimed too high. 11th/12th of April; potential breakout to the upside A retest to the upside, the first support; sitting around 0.044 USDT 14th of April; rally failed I'm looking for a retest at support, sitting at 0.0301 USDT For this to happen, the bounce level around 0.0360 USDT should be broken first. Right now, I think that 0.036 USDT might be more important than the 0.0301 USDT levels. 16th - 19th of April; Movement If both of the above failed, and the price remains inside our squeeze, I'm expecting a movement that can go both ways (0.036 USDT). Levels to watch 0.0301 - support 0.0360 - current entry/exit 0.0372 - support 0.0420 - resistance 0.0440 - resistance I'm writing these TA's to educate myself, do not take this as financial advice.
R
by TheFD
REEF/USDT holding strong, demand line is being respected.Reef still looks good, longers seem to be doing fine even after the little selloff that came with the BTC dump. We have fallen a little bit out of the simmetrical pattern, but it seems like the buyers are going back and taking the lead again and even in this last little selloff the asset still did a higher low, didn't go any lower than before. The uptrend is still there. Longers might win this. Bullish convergence is still mantained. Although it's looking bullish I still have to leave the potential short profit takes for those looking 4 shorts. To those taking longs just wait, now patiance and diamond hands play a role. Keep it up until we get to the 0.1$ psychological resistance. Trade safely and good luck ;) (remember to use stop losses)
RLong
by Eli_Night_jog
2
Reef's trend has been favourable.Looking again at Reef since it entered the existing rising/symmetrical triangle on Feb 28th. Now with redrawn support line since market correction on 5th April. The previous support line is the dotted red line. Both lines fit well. Since entering the triangle, Reef has been above the 20MA for 25 of the 40 days, performed slightly better than BTC, and is up approx 40%. At the moment it needs to break above the 20MA and previous support line, which is now acting as resistance. If price moves out of the top of the triangle, it will need to move though $0.04 and probably $0.046 to really be clear of all previous resistance. Measurements suggest a target of 0.06 might be possible if/when this happens. Although price is currently moving up to test the dotted red previous support line, volume is weak and will need to be as strong as on previous break outs - see Feb 11th and March 12th. Note that this built progressively over a few days.
RLong
by AntSchmitt
2
Watch the volume - history repeating itself?Reef is moving towards the end of a symmetrical triangle, a breakout should occur soon. Cautiously - positive. A break to the downside could be very unpleasant. Based on the triangle, potential support and price target are at around 0.017 - 0.02. However Reef was in a strong bullish uptrend and had just completed a Fib retracement setting a new ATH in the process - when the 'Alameda sell-off' hit on March 15th. Since then Reef has formed the symmetrical triangle. As with Reef's previous recovery from the retracement through the parallel channel that commenced on February 11th, Reef has moved up to 0.5 Fib level, before moving back down to the 0.236. Compare the two dashed purple lines, there are strong similarities in price action and RSI which give reason to expect a bullish break to the upside. Be aware though that at the time Reef was more comfortably above the 20MA and volume has been lower through this 'recovery'. As a side note, the downward symmetrical channel from the first retracement could probably be drawn as a symmetrical triangle, making this retracement even more like the first one. Reef has plenty to be optimistic about long term, there is lots of integration and development on the roadmap, and when the Polkadot parachain auctions arrive Reef should feature strongly.
RLong
by AntSchmitt
5
Reef UpdateHere's a quick look at Reef 4 hr chart. as we can see the price action has been oscillating in a bigger symmetrical triangle for a while now and we might see a break soon. Note: Look for some volume to come in when the price breaks out from the triangle as confirmation. The idea is: Buy the breakout from the level shown in the chart and sell at the target areas shown in the chart. Targets: 1. 0.044$ 2. 0.0465$ Follow me for daily profitable trading setups BTC dictates the market. If BTC goes down, then the alts will take a hit. Trade safe!
RLong
by MBM_Crypto