DEFI Index / USD Log Ascending ChannelDEFI Index versus US Dollar - Log Ascending Channel, using FIB channels as ladders and Heikin-Ashi Candles to take out the noise.
Defiindex
Defi is forming a triple bottom⁉️💎In one of our last Defi analyses we have shown the formation of the double bottom. After the price bounced off the 8500 resistance area for the second time, we can witness a potential formation of a triple bottom.
💎The critical support lies at 5590, which is confirmed by the 88.6% Fibonacci retracement level. As of yet, Defi respected the support while trading at the bottom of the 5590 - 8770 range. This might be the beginning of a new cycle, based on the previous market waves.
💎We must start to see is ...
DEFI confirming strong bullish sentiment ⁉️💎The initial Defi Index forecast came true and the price moved up towards the 8167 resistance. Moreover, Defi broke higher and on the pullback tested 8167 level, where resistance became the support.
💎Such price action leads us to the conclusion that the .......
DEFI - truly a unique low-risk/high-reward opportunity ⁉️💎The Defi Index could have completed a Head and Shoulders reversal pattern while forming a double bottom at 5542 level. This support aligns with the 261.8% Fibonacci retracement, applied to the last pullback before the final drop.
💎Today, Defi Index is testing the support for the second time, and for now.............
DEFI Index on the riseThe uptrend is about to continue after DEFI broke above the downtrend trendline and bounced off the uptrend trendline. Enjoy the rally!
$DEFI/USDT 6h (Binance Futures) Rising wedge breakdown & retestDeFi index lost 50MA support that was holding the up-trend and finally broke bearish.
Now retesting the wedge, seems like retracement is in play short-term before resuming bullish again!
Current Price= 2476.9
Sell Entry = 2495.9 - 2616.9
Take Profit= 2263.2 | 1986.6 | 1790.0
Stop Loss= 2810.3
Risk/Reward= 1:1.15 | 1:2.24 | 1:3.02
Expected Profit= +22.94% | +44.58% | +59.96%
Possible Loss= -19.86%
Fib. Retracement= 0.382 | 0.382 | 0.5
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
$DEFI/USDT 3h (Binance Futures) Falling wedge near breakoutDeFi index is about to break bullish, you can enter here of wait for a small pull-back!
Current Price= 1843.2
Buy Entry= 1808.3 - 1731.1
Take Profit= 1992.7 | 2131.2 | 2322.1
Stop Loss= 1591.6
Risk/Reward= 1:1.25 | 1:2.03 | 1:3.1
Expected Profit= +25.20% | +40.86% | +62.42%
Possible Loss= -20.12%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
DEFI Index, Move Below Well-Established Trend-Line, Objections!Hi,
Welcome to this analysis about the DEFI Index, we are looking at the 6-hour timeframe perspectives. The Index recently has shown up with a sharp move below a well-established ascending-trend-line marked in my chart on which the Index severely bounced bullishly to the upside and now recently moved below it signaling it is now a serious resistance-line that should not be underestimated, mainly when the Index moves on the next times to test the remaining supports it is likely to emerge with a pullback from there because of the resistance-cluster. This does not mean the index will continue bearishly forever however it has to be elevated then how the index manages to confirm the dynamic-support-line as a reliable support to bounce and back up.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
