AGIX Demand Zone, Falling Wedge Reversal
Updated
AGIX was traded in a falling wedge since September 2021.
On 21st January price breakdown the lower trendline and find strong resistance between $0.13 and $0.11 – a high demand zone.
Panic selling caused by market uncertainty, Russia – Ukraine conflict, etc. is over and whole crypto market is seeming ‘pretty healthy’.
These in conjunction with the relatively low selling volume and the long shadow candlesticks give a higher probability for a bullish reversal than a bearish continuation.
The begging of the uptrend will be signaled with the breakout of the lower trendline; however, the confirmation will come with the price breaks the upper line and holds above the $0.175 resistance zone.
If you’re a conservative trader wait for the price to breaks the resistance at $0.175 and place your stops just below the upper trend line.
If you’re a more aggressive trader, now is the time to go long or wait the price to return in the demand zone.
I’ll keep my analysis updated to any significant changes.
On 21st January price breakdown the lower trendline and find strong resistance between $0.13 and $0.11 – a high demand zone.
Panic selling caused by market uncertainty, Russia – Ukraine conflict, etc. is over and whole crypto market is seeming ‘pretty healthy’.
These in conjunction with the relatively low selling volume and the long shadow candlesticks give a higher probability for a bullish reversal than a bearish continuation.
The begging of the uptrend will be signaled with the breakout of the lower trendline; however, the confirmation will come with the price breaks the upper line and holds above the $0.175 resistance zone.
If you’re a conservative trader wait for the price to breaks the resistance at $0.175 and place your stops just below the upper trend line.
If you’re a more aggressive trader, now is the time to go long or wait the price to return in the demand zone.
I’ll keep my analysis updated to any significant changes.
Trade active
AGIX closed above the lower trendline two days ago and now is testing it as support. That's a good opportunity to go long. A Bitcoin correction may drag AGIX below trendline. Do Not Panic Sell!Trade active
Markets are falling due to Russia - Ukraine tensions. That can not affect the market in the long run. Stay to your plan. Do not panic sell!
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