STG Long Term Profits Plan
Hello traders!
Currently, we are experiencing a big drop in Crypto but other markets have also been dropping hard. So, now instead of going all panic mode let's switch gears and plan ahead to take advantage of the buying opportunities. So, here's my plan in the long term for StarGate.
1) Right now, we can see price hit the Demand Zone which is the zone marked in green. It got pierced though recently after a real long time. However, it's turning into a hammer candle and reversing altogether which means strong buying pressure stepping and it could totally be a fakeout, so we should stay alert to see how it plays out.
Possible confirmations for the demand zone to be safe are: Wait for the price breakout and take a position when it re-test the zone back again.
In the future if the bearish trendline gets broken, we can expect an important rise on the price. We still have to deal with a strong supply zone which is marked in red. If price manages to pierce through the supply then we fly to the moon ♥ meanwhile, I'll be monitoring weekly and informing STG movements over time.
2) TARGETS: The nearest one would be 0.53, which would act as a mean reversion zone. After that, we can expect ranging, and we'll have to wait for signs and clues to find out what could possibly happen next. Targets long term: the supply zone and the ATH +
This idea is to spot for the long term. This asset is still in ranging mode; there hasn't been a breakout of the range yet. However, it's worth noting that there's a triangle pattern playing out in the monthly timeframe, right now.
I hope you find it useful and are able to take advantage of this idea.
Kina Tip of the Day: Take profits partially even when they don't seem much because, in the long run, they will grow in a balanced way with the rest of the portfolio.
Keep it shiny ⭐
Kina, The Girly Trader
Currently, we are experiencing a big drop in Crypto but other markets have also been dropping hard. So, now instead of going all panic mode let's switch gears and plan ahead to take advantage of the buying opportunities. So, here's my plan in the long term for StarGate.
1) Right now, we can see price hit the Demand Zone which is the zone marked in green. It got pierced though recently after a real long time. However, it's turning into a hammer candle and reversing altogether which means strong buying pressure stepping and it could totally be a fakeout, so we should stay alert to see how it plays out.
Possible confirmations for the demand zone to be safe are: Wait for the price breakout and take a position when it re-test the zone back again.
In the future if the bearish trendline gets broken, we can expect an important rise on the price. We still have to deal with a strong supply zone which is marked in red. If price manages to pierce through the supply then we fly to the moon ♥ meanwhile, I'll be monitoring weekly and informing STG movements over time.
2) TARGETS: The nearest one would be 0.53, which would act as a mean reversion zone. After that, we can expect ranging, and we'll have to wait for signs and clues to find out what could possibly happen next. Targets long term: the supply zone and the ATH +
This idea is to spot for the long term. This asset is still in ranging mode; there hasn't been a breakout of the range yet. However, it's worth noting that there's a triangle pattern playing out in the monthly timeframe, right now.
I hope you find it useful and are able to take advantage of this idea.
Kina Tip of the Day: Take profits partially even when they don't seem much because, in the long run, they will grow in a balanced way with the rest of the portfolio.
Keep it shiny ⭐
Kina, The Girly Trader
Note
Update on STG! There's not much to be said, market has been boring because there's a lack of volatility. BTC might come and go but many alts just haven't moved much at all.
STG hasn't broken its demand zone yet. However, Daily Timeframe has displayed a downtrend starting from May 30th, 2024. Right now, we can see price has created something that could be a Double Bottom, we even have RSI bullish divergence so it's a matter to see if STG can break through 0.40
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