Spell Buy TradeHere is My Study On Spell
Welcome to my channel! Here you'll find daily technical analysis ofthe latest trends in the crypto market. From Bitcoin to altcoins, I'lIl be sharing my insights and predictions to help you make informed decisions
about your investments. Follow me for the latest updates and join the conversation in the comments!
Crypto technical analysis uses past price history to predict future price. It's not a guarantee and shouldn't be relied on solely for investment decisions. Consider other factors such as market trends, economic strength and
information dissemination. Use with caution.
This Is Not A Finacial Advise
SPELLUSDT trade ideas
✴️ Spell Token Hits BottomSpell Token (SPELLUSDT) hit bottom, but how do I know this?
The drop ending 17-August is really strong and steep, this is an excess.
This excess ended up producing a bullish divergence between price, the RSI and MACD. The trading volume is much lower in August vs March, telling that the bearish trend is losing strength.
Today we have above-average volume and a bullish reversal candlestick as prices move above EMA10.
That's how I know the bottom has been hit and now the price for this pair is ready to increase.
Namaste.
$SPELL in bullish Dev Soon move hard $Spell in bullish Dev Soon can move hard
How to Trade Bullish?
What is divergence?
Divergence refers to a situation when a currency pair price diverges from the trend that the technical indicators are showing. So if the technical indicators are making a lower high but the currency pair price witnesses a higher high, it indicates that there is a price divergence in the market.
What is a bullish divergence?
In a bullish divergence, the currency pair prices make a new low in the market, but the technical indicators mark a higher price. This signals that bears in the market are no more in control, and bulls are getting stronger, indicating a bullish reversal after the downtrend ends. At this point, traders can place long orders to benefit from the increasing market prices.
How to trade divergence in CRYPTO
Identify the existing trend in the market.
Draw support and resistance lines to spot the divergence and confirm the reversing or continuation signals.
Monitor the high and low price levels in the market during the particular time period.
After sitting the divergence, understand what it is indicating to place long or short orders accordingly.
Wait for your trading strategy to provide you with an entry signal before placing an order.
You can trade regular divergences by spotting them in markets making higher highs (or higher lows) but the technical indicator marking a lower high (lower low). At this point, place a short (or long) order to trade the expected downtrend (or uptrend) reversal.
You can trade hidden divergences by spotting them in markets marking higher lows (or lower highs) but the indicator marking lower lows (or higher highs) simultaneously. This sends a market continuation signal to the traders and indicates to them to enter a trade during an existing uptrend and exit a trade during a current downtrend.
How to catch the great trade entriesAfter the price falls below the contraction zone on the higher timeframe (4H in this case)
We look at the MCVF that I made; go to a lower timeframe (5m in this case)
The indicator finds contractions in momentum and tells you when price will reverse; almost right at the top;))
I linked the indicator below, make sure to give me a follow and a boost if you like the code + content that I make
SPELL is making it's play, and well...SPELL is making it's play, and there is a chance we see it rise soon, as it has great potential, and the chart shows (at least it looks like) we are in a bottom, as with other coins.
Not saying for sure this is the bottom as the whales are hunting the SL's, and they are doing it well, so stay tunned, and invest wisely.
I consider SPELL special, it has a good marketcap, the project is good and for the ones who don't know it, you should make your own investigation.
Entering this trade will be only YOUR DECISON! Just keep in mind, with this one you can wake up with an easily 500% or more
THIS IS NOT A FINANCIAL ADVICE, PLEASE INVEST AT YOUR OWN RISK