MKRUSDT 1WMKR ~ 1W
#MKR This is a bullish pattern, but at least you need to wait until the resistance line of this pattern is successfully broken, to confirm this pattern.
Mkrusdtsignals
MKR target 185012h time frame
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We've been talking about MKR since July 14th. Now it broke the bullish flag(yellow arrow), which is a strong sign. Currently MKR is retesting this flag, and here is also the support of uptrend line. According to previous perspective and analysis(ref.1 and ref.2), MKR has higher target over 1800. Therefore, here is a good position to set trading plan.
TP: 1850~2000
SL: 1315
ref.1 Initial pump
ref.2 Continuation structure
MKR target 180012h time frame
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MKR is on the way to build 5 waves, already completed 3 waves from 500~1590. The most important thing here is where is the end of 4th wave(correction wave). According to structural support and 0.382 Fibonacci Retracement, 1350 is the potential end of 4th wave, also will be the start of 5th wave(final pumping wave), which target is 1800~2000. Therefore, we can set up a trading plan here.
TP: 1800~2000 / 2248
SL: 1220
MKR target rising channel4h time frame
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MKR creating a rising channel also can be regarded as bearish flag.
According to fibonacci retracement and structural support, the target could be set at 1160.
This trading plan has 2.5 risk to reward ratio.
TP: 1160
SL: 1332
MKR target 1440 and potential reach 20001D time frame
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MKR retesting that brokeout strucutre
TP: 1440 and 2050~2270
SL: 500
*Notice entry is very far from SL(over 40%)*
MKR - was opening of DEFI season ) Buyer's area from where there was a 1000% increase last year
Someone is neatly absorbing all the sales and not letting them get near the $600 level
Price a clamping down in a flat bottom triangle.
if price made A break down move i will open a short. A breakup of the blue trend line i will open a long position. Tomorrow's daily will decide what a position I need opening.
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your
your friends.
MKR - position updateAs I predicted.
Who opened in position?
I'd like to hold on to the position, and then I'd like to cover in parts.
the last idea
MKRUSDT Rejected on the 1D MA200. Bearish unless this breaks.*** ***
For this particular analysis on Maker we are using the MKRUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where MKR is shown trading on its long-term bearish pattern which is a Channel Down (1) since August 23 2021 High. There is also a diverging Channel Down (2) that started on November 26 2021. Maker's impressive rise yesterday stopped just below the top of that Channel Down and even more so on its 1D MA200 (orange trend-line), which has been a major Resistance throughout this bearish trend.
As you see, the last two emphatic rejections for MKRUSDT have been on exactly on the 1D MA200 (April 05 and May 11 2022) and both resulted into strong sell-offs below the 1D MA50 (blue trend-line). With the 1D RSI rejected also on the 80.000 vastly overbought level (the highest RSI reading since April 22 2021), it is quite likely that the price will follow a similar selling sequence, on the short-term at least, towards the 1D MA50 or even the 4-month Support Zone (651.00 - 583.00).
Yesterday's rejection simply shows that technically, the coin remains bearish on its +1 year selling pattern. In order to see a reversal on its long-term trend to bullish, we need to see the candle closing above the 1W MA50 (red trend-line), which has been unbroken since December 09 2021.
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