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.
TEl is showing incredible strength despite the market conditionsBitcoin is Dumping and TEL is holding strong.
It completely rejected the Head and Shoulders Pattern.
We are waiting for a positive outcome of the Nebraska Vote (#2) on Tuesday.
I continue to be incredibly long on Telcoin. It's a wonderful thing.
HEAD AND SHOULDERS SPOTTED (STILL BULLISH)Even though head and shoulders patterns are bearish, I remain bullish on TEL. With all the upcoming news this will be a game changer.
Will potentially dip a small amount more in the very short term however this will be one of the top gainers of this epic bull run!!
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.