SNGLS/BTC (Retest Major Support)💎Technical Analysis Summary💎
BINANCE: SNGLSBTC
-SingularDTV is retesting major support area at 56s sat
-This area has been tested 3 times and we saw strong bounce up
-Will history repeats itself? or this price will break down lower?
-I can't tell what will happen but to reduce the trading involve
-My advice is to wait for proper reversal confirmation or Bullish signs
-This will always help us improve our trading journey
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Snglsbinance
SNGLS/BTC (Retest Key Support Area?)SNGLS/BTC
-During the strong breakout of Bitcoin recently
-Most Altcoins pulled back to their previous support areas
-While this coin, the price went back inside the descending triangle
-If currently level will not hold, it is likely to retest key support at 73 sat
-Before potentially try to challenge the descending trendline at around 90 sat range
-Trading inside the triangle pattern is kinda risky
-I recommend trading only after confirmation of breakout direction
SNGLS/BTC (Bearish Triangle Pattern?)SNGLS/BTC
-currently, the uptrend has paused
-painting a bearish descending triangle
-after multiple retests of support at 130-125s area
-if this support will fail today or on the 4th retest
-the downside target is between 103-93s
-but if the price can climb back to trendline resistance
-and break higher, the upside target is the recent top
SNGLSBTC formed bullish Cypher | Upto 42% move expectedIn my previous post of SNGLS with Bitcoin pair we have seen that on 4 day based chart the SNGLS formed bullish Gartley pattern and as per prediction the priceline took a powerful bullish divergence from buying zone and produced more than 100% profit.
Formation of new Cypher pattern:
Now again on midterm 2 day chart the price action of SNGLS has formed bullish harmonic Cypher pattern and entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Cypher pattern should be:
Buy between: 0.00000082 to 0.00000073 sats
Sell between: 0.00000088 to 0.00000104 sats
Stop Loss:
The potential reversal zone area that is up to 0.00000073 sats can be used as stop loss in case of complete candle stick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 42% and as per above mentioned stop loss, the loss possibility is 18%.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
SNGLS/BTC (Uptrend continue?: up to 40% profit)SNGLS/BTC
SNGLS is starting to make a bullish move as the price bounces off the key support at 69 sats.
If this is the potential bottom, we could expect the price to go higher up to 110 sats and have our stop-loss below sats.
SNGLSBTC formed bullish Gartley | Upto 82% bullish move expectedPrice action of Breaker / Bitcoin has formed a bullish Gartley and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closed below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00000095 to 0.00000078
Sell between: 0.00000109 to 0.00000142
Regards,
Atif Akbar (moon333)
