Turbo preparing for more upwards move but there will be pain!
Updated
Turbo's price action is currently in what looks like a level 1 move, however this could be invalidated if the equal DAILY lows are taken out by a liquidity sweep.
However that should be short lived as there is significant resistance in the form of an FVG and Gap in the 'Discount' zone, below the 0.50 Fibo, as we are still in a Bullish Trend with current DAILY and WEEKLY EMA in a bullish cross.
The painful areas could be anywhere between the Gaps (0.004970 ~ 0.0040016) or even as low as (0.0034710 ~ 0.0029715). However in my opinion price action won't breach the 0.004000 value, unless with a fast wick to the down side before reversing.
The bullish targets are the Equal Highs (where liquidity is lurking) as well as the previous High where additional liquidity is lurking in the form of bearish stops on the futures markets.
All in all, based on my analysis, is that Turbo will continue to surge forward, at least to a target of anywhere between 0.01 to 0.10 cents, even possibly higher, based on market sentiment and interest in this token, which I must add is based in Real Art with a very interesting background story of how it was created, with the assistance of both a strong community and Chat GPT AI.
However that should be short lived as there is significant resistance in the form of an FVG and Gap in the 'Discount' zone, below the 0.50 Fibo, as we are still in a Bullish Trend with current DAILY and WEEKLY EMA in a bullish cross.
The painful areas could be anywhere between the Gaps (0.004970 ~ 0.0040016) or even as low as (0.0034710 ~ 0.0029715). However in my opinion price action won't breach the 0.004000 value, unless with a fast wick to the down side before reversing.
The bullish targets are the Equal Highs (where liquidity is lurking) as well as the previous High where additional liquidity is lurking in the form of bearish stops on the futures markets.
All in all, based on my analysis, is that Turbo will continue to surge forward, at least to a target of anywhere between 0.01 to 0.10 cents, even possibly higher, based on market sentiment and interest in this token, which I must add is based in Real Art with a very interesting background story of how it was created, with the assistance of both a strong community and Chat GPT AI.
Comment
As predicted, inclusive of much pain, we have seen a significantly brutal retracement, but now we are about to see a very strong push upwards to break the ATH in a rather short period of time, after the current retrace has formed on the daily.
Thus far, we can observe price action sweep through the Equal Lows, taking all liquidity that was sitting there (mostly Buy Stops), and then back up to a Daily Bearish FVG.
Price action then dropped to the recently formed Daily Bullish FVG which is now in the process of a retracement move, which I suspect could include at least 2 to 4 bearish candles, before moving up again to the next level, breaking through the 0.50 fibo of the main move, after sweeping through the equal highs (where the bearish stops/liquidity is sitting), ultimately through the All Time High (ATH) which I believe will be broken anytime from now on.
The chart still shows a very strong WEEKLY bullish Trend and in my opinion this is a Token to watch, as I believe we will see a 4 to 5 digit overall percentage profit/increase by the end of this market cycle.
Comment
Update...Price action has now broken the previous high and the Daily candle has closed above it at $0.0058373
Additionally, a confirmed Daily Bullish EMA and a Bullish Daily FVG just above the previous OrderBlock.
This is now a very strong signal for some very bullish price action to follow. Due to the fact that there is no previous price action / history to forecast the next target, I will use the previous All Time High (ATH) as the next immediate target as well as a fibonacci extension for additional forecasting as this particular Token has a very strong community and it is one of the very few original projects with significant value, being that the token, in my opinion, is grossly 'undervalued' which means I believe the price should reach at least, $0.34 at the top of this current cycle.
More analysis will be posted once we reach the Equal Highs area where another Liquidity run will occur.
Comment
As shown in the above WEEKLY Chart, it seems we have a significant Retracement coming for TURBO which more than likely will halve its value before it hits a major point of interest which is the Combined DAILY FVG with a WEEKLY FVG.
This means that price action could possibly drop anywhere between the price range of 0.0009459 to 0.0007196 which is also quite a significant retracement on the previous impulse.
Due to the fact that TURBO is highly correlated with BTC (especially when it moves in a bearish trend) we can expect TURBO to rebound off the higher GAPs if BTC continues its upward trend. However going by my current BTC analysis, I am expecting more downtrend and pain before things get better or at least until the Alt market decouples from it's BTC overlord and starts the Alt Season.
Lets wait and see what information the charts give us in the coming days and weeks and I'll update accordingly.
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