USTCUSDT trade ideas
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Bullish Meeting Line Pattern
An uptrend must be in progress (Bullish Meeting Line Pattern). I can make a "fairly" decent argument for a motive phase.
ZigZag (ABC), a complete cycle of 3 waves:
As a result, a massive recovery effort is under way!
Target -1 = $ 0.042 (would be a reasonable target)
Target -2 = $ 0.05
*chart pattern on monthly.
TERRA USTC: Will It Pump Now?This is the defunct stablecoin GATEIO:USTCUSDT that crashed last year, it is now available on the futures market. Traders can go long or short on it, depending on market direction and your analysis.
This time, it has broken out of a downtrend convincingly, and trading volume is rising.
We will have our stop loss slightly below previous supports on 4H timeframe.
The risk to reward is cool.
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Long USTCDespite facing resistance, the strength of the daily candle is bullish. USTC has confirmed a strong bullish divergence along with a huge volume push. It also retested an important Fibonacci level on the lower time frames and we are about to break the 200 EMA. All these signals are indicating potential for upward movement. Wave 1 is going to 0.045 and wave 3 has a target of 0.095.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
The Last Ratio (Fib 61.8%)
As you know, the Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, 78.6% and 85.4%.
As shown on this chart, in a lot of ways, wave b depends on wave a, Fib 85.4% -$ 0.0205 , the actual price at wave b was $ 0.021, quite close indeed.
&
(Fib 85.4% to Fib 23.6 to Fib 78.6 to Fib 38.2 , trying to disguise what they are doing)!
as a result:
The Game is about to Change (The Last Ratio - Fib 61.8%).
Three Distinct SectionsAs shown on this chart (consists of three distinct sections),
1-Impulsive decline = supply > demand,
2-Impulsive rally = demand > supply,
3- Sideways appearance = supply and demand are nearly equal.
What to expect next?
At this point, low volatility and low volume indicate a drying up of selling pressure.
Target
Point and Figure Configuration: