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Telcoin / Tether

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TELUSDT trade ideas

$TEL - an important candleThere are many types of candles. In the previous 4H chart, a bullish hammer formed at the support level between 06h00 and 10h00 (GMT+2). A similar candle formed on May 6, 2021 at 18h00-22h00 (GMT+2). According to dailyfx, "The hammer candlestick appears at the bottom of a down trend and signals a bullish reversal. The hammer candle has a small body, little to no upper wick, and a long lower wick - resembling a ‘hammer’. The pattern indicates that the price dropped to new lows, but subsequent buying pressure forced the price to close higher, hinting at a potential reversal. The extended lower wick is indicative of the rejection of lower prices." While the current candle which began at 10h00 (GMT+2) seems bearish, there are signs that the bulls remain resolute following the Nebraska vote. The current downward trend seems to be a response to $Bitcoin rather than a response to $TEL. I maintain that literally, $TEL is on sale because the likelihood of a bull run remains very high. $TEL will either wait for the rest of the market to reverse northwards, or it will breakout of the current $Bitcoin trend and return to the moon where it belongs. Whatever happens, the fundamentals on $TEL are just too good for one to walk away.
Long
by DrLin
TEL - Potential Head and Shoulders? This potential shoulder has not come down to the neckline enough for a break below. This box here shows the support of the buyers. H&S is normally a strong reversal pattern to the downside. But I can't see this happening to be honest. Tuesday should give us some good price moving news. If the Bill is not passed I could see the head and shoulders pattern come into effect and a move to the downside. But for now assume sideways consolidation. I am very long on Telcoin. It's an insanely promising project.
Long
by CryptoMitchX
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