WBT - Wait For The Bulls ⏰ Analysis #9/50Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on DAILY: Left Chart
WBT is still sitting inside a strong demand zone so we will be looking for buy setups on lower timeframes.
📉 For the bulls to take over long-term , we need a break above the last major high in orange. (around 4.3)
on H4: Right Chart
WBT is forming a channel in red but it is not ready to go yet.
🏹Trigger => for the bulls to take over, we need a momentum candle close above the upper red trendline and last major high.
Meanwhile, until the buy is activated, WBT can still trade lower till around 3.0 demand zone again.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Token
Hashflow ( HFT )Hashflow ( HFT ) is a decentralized exchange (DeFi) that supports interconnectivity.
It can connect users with professional market makers and is designed to provide:
-zero slippage,
- no intermittent losses,
- inter-network exchange without bridges.
- low GAS commission,
- a MEV-proof trading experience.
MEV is a way for validators to make additional profits by changing the order of transactions before approving a new block in the network. See link for details.
Hashflow currently supports public networks such as Ethereum , Avalanche, Polygon, Arbitrum, Optimism and BNB.
What's unique about Hashflow?
Most DEXs rely on automated market makers (AMMs) to provide buy and sell assets, and while they are important, they are far from perfect. AMMs are inefficient from a capital perspective, are usually subject to risks such as sandwich attacks and non-permanent losses, and cannot price non-spot assets.
Using a Request for Quotes (RFQ) model that allows professional market makers to manage liquidity pools, Hashflow solves these problems.
What it means for market makers
Hashflow allows market makers to obtain liquidity and value assets using off-network pricing functions backed by cryptographic signatures.
By moving pricing offline, market makers can use more sophisticated pricing strategies that take into account offline data, such as historical asset prices, volatility , and other real-world information that allows them to effectively price assets.
What this means for traders
By moving pricing functions off-network, traders gain the following benefits:
Better pricing.
Off-network pricing results in tighter quotes, which gives traders a greater return on their money spent.
Zero slippage.
All Hashflow quotes are executed at the displayed price.
MEV resistance
Cryptographic signatures make outperformance impossible. Traders can keep what they earn.
Cross-network exchanges without bridges
Traders can seamlessly exchange assets between blockchains within minutes without the need for external bridges, while taking advantage of all the benefits described above.
How Hashflow works
The user connects their wallet to Hashflow, enters the amount they would like to exchange, and then a quote is displayed to them.
If the user agrees, the order is sent and that transaction is verified and added to the Hashflow network.
On the other hand, there are market makers who are in the business of issuing quotes that the user has already accepted.
The market maker then signs the transaction and it is executed without slippage. Unlike other DEXs, which typically have an AMM (Automated Market Maker) that handles market making and asset pricing on the blockchain using deferred liquidity provisioning, Hashflow works the same way as an order book mechanism.
Pricing is done outside the blockchain, but trading is done inside the blockchain.
Total invested: $28,200,000
Tokenomics
HFT's total offering will be 1,000,000,000,000 (one billion tokens).
Allocations:
19.32% (193,200,000,000 HFT ) to the Core Team
25% (250,000,000 HFT ) to Early Investors
2.5% (2,500,000 HFT ) for Future Hires
53.18% (531,800,000 HFT ) for Ecosystem Development as follows:
18.54% to Ecosystem Partners
13.08% to Community Rewards (NFTs + Rake the Rewards + Exchange Distribution)
9.54% for Future Community Rewards
7.50% to Designated Market Maker Loans
2.52% to Vendors and Early Service Providers
1.00% to the Community Treasury
1.00% for Hashverse Rewards
Tokenomics link
Allocation and Distribution
Investment and pricing for funds
The project raised $28.2 million in three rounds, with 25% of the tokens sold at:
1. $0.02 per HFT (160 million tokens),
2. $0.10 per HFT (27.5 million tokens),
3. $0. 40 per HFT (62.5 million tokens).
dropstab.com
Token distribution and what investors will earn
Investors
A page with a token distribution chart, see the link.
Investors have the following token distribution schedule:
25% cliff for 12 months. From the 13th month they will get 25% tokens at once
75% monthly distribution in equal shares for 36 months.
The overall schedule is scheduled for 4 years.
It turns out that investors will not receive anything for a year.
Let's look for where else investors, in a big way, can earn.
About 9.5% HFT , will be distributed:
1. trading rewards
2. Rewards for market makers.
3. Rewards for liquidity providers. Approximately 20% APY annual return (i.e. including reinvestment). These are very approximate values, see current pools and their returns.
HFT distributions to traders, LPs and market makers, will eventually be subject to DAO approval once they are launched.
How many tokens will investors receive as liquidity providers?
Let's make the assumption that locked tokens will be available for investors to add to liquidity pools.
The approximate return for liquidity providers is 20% APY, which is about 18.4% APR
$0.02 per HFT (160 million tokens),
A year will get 29.4 million tokens, a month 2.45 million tokens
$0.10 per HFT (27.5 million tokens),
In a year, they will get 5.06 million tokens, in a month 0.42 million tokens
$0. 40 per HFT (62.5 million tokens).
They will get 11.5 million tokens per year, 0.96 million tokens per month
Best regards EXCAVO
WBT - The Bulls Took Over! Video📹Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for WBT .
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
HAI - Let The MarkUP Begin! ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
After being stuck inside an Accumulation Phase late 2022, HAI began 2023 bullish by breaking the consolidation upward.
📗 That's a perfect textbook example of a shift in momentum from bearish to bullish.
The bulls are already in control and we can see HAI making big impulse movements and relatively smaller correction movements trading inside the red rising broadening wedge pattern.
🏹 For the bulls to remain in control from a long-term perspective, we need a break above 0.05 round number.
📉 Meanwhile, if a correction starts, we will be looking for trend-following buy setups as HAI approaches the lower red trendline acting as a non-horizontal support.
So, in my opinion, the HAI price will continue to rise to a level of 6,2 cents (a target for a bull flag), make a small correction, form new higher lows and higher highs, and continue to rise to a level of 9,8 cents, and probably hit the 2022 high of 16.7 cents until the end of the year 2023.
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
OKB - Trend-Following Setup!🏹Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
OKB has been overall bullish trading inside the rising broadening wedge pattern in red.
After rejecting the upper red trendline, OKB is now in a correction phase and approaching the lower red trendline.
Moreover, the zone 40 - 42 is a strong demand zone.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand zone and lower red trendlines. (acting as non-horizontal support)
As per my trading style:
As OKB approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BGB - 100%+ Move!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
BGB was stuck inside a range 0.17 and 0.22
As per my last video analysis (attached on the chart) we were looking for short-term buy setups inside the range.
🏹 BGB got even stronger and broke above the 0.22 resistance zone in green and kept moving higher for another 100% bullish movement.
Last week, we have rejected the 0.5 round number and now retesting the blue demand zone.
As per my trading style:
as BGB approaches the demand zone 0.35, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XMR - Standing Strong!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
XMR is overall bullish medium-term and now approaching a support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart
XMR formed a channel in red but it is not ready to go yet.
🏹 Trigger => for the bulls to take over, we need a momentum candle close above the last major high in gray.
Meanwhile, until the buy is activated, XMR can still trade lower inside the support zone 140 - 150
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin is not offering a buy signal.Bitcoin is far from giving a medium-term buy signal.
The price is below the 210 SMA on the weekly chart, with an RSI of 50.83. On the monthly chart, the RSI is 44.
None of our trend following systems are giving us a buy order.
Of course, we do not know the future, but the most likely scenario is that we remain in a phase 1, sideways trend before entering a phase 2 trend.
Even if we hold BTC for the long term of tokenisation, we are not going to open more positions right now.
Bitcoin - More short positionsBitcoin is in a critical situation, as it has been in recent months. This cannot guarantee a bearish trend in the medium to long term, but this is the most likely scenario.
Monthly chart: On a quantitative level, we can observe that on the monthly chart, the price is entering below the 70 simple moving average (the 210 is not yet developed), with an RSI of 40.
Weekly chart: On the weekly chart, the price is below the 210, 70, and 14 SMA, with an RSI of around 33, very low.
There is probably no trend-following system that gives a buy order on tokenised assets currently, given that the blockchain market is in a bearish phase.
One of the, at least, optimistic concepts of this scenario is that the weight of the trend that started in June of this year 2022 has a lot of strength, and therefore, if the channel is broken to the upside, there may be a lot of institutional and retail volume in the asset.
For now, we have short Sell Stop positions in place, as well as active futures positions and, for now, we are not placing bullish Buy Stop positions.
Obviously, whether the asset breaks to the upside or the downside, we will be in, although the most likely scenario is a bearish trend and the risk/reward ratios should be freer on these positions.
WBT - Approaching A Strong Demand!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on DAILY: Left Chart
WBT is approaching a strong demand zone so we will be looking for buy setups.
on H1: Right Chart
WBT is forming a channel in red but it is not ready to go yet.
Trigger => for the bulls to take over, we need a new major swing high to form and then a break above it and above the upper red trendline.
Meanwhile, until the buy is activated, WBT can still trade lower till the daily demand zone where we will be looking for new buy setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
KCS - Long-Term and Short-Term Scenarios!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
KCS is overall bearish trading inside our brown wedge pattern and it is currently approaching the lower brown trendline.
Moreover, KCS is sitting around a strong support zone and round number 5.0 so we will be looking for buy setups on lower timeframes.
As per my trading style:
I will be looking for reversal setups (like a double bottom pattern, trendline break , and so on...)
Unless the 5.0 support is broken, then a movement till the 2.5 support would be expected where we will be looking for new buy setups.
For now, for the bulls to take over, we need a break above the last major high in gray.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CHZ - Potential Bullish Reversal! ↗️Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on DAILY: Left Chart
As per my last analysis, we know that CHZ is around a support zone so we will be looking for buy setups.
on H1: Right Chart
CHZ is forming a double top and descending triangle pattern but it is not ready to go yet.
Trigger => for the bulls to take over, we need a momentum candle close below the gray neckline.
Meanwhile, until the buy is activated, CHZ can still trade lower or even break the support zone downward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
SCCP fan token sccp fan token.
buy under 2$ forecast 140$
The S.C. Corinthians Fan Token allows $SCCP fans to have a tokenized share of influence on club decisions, purchased through the consumer-facing platform, Socios.com, fans can engage in a wide variety of club decisions, for example, choosing a goal celebration song or deciding which MMA fighters should face off and in doing so, earn rewards and money can't buy experiences. Experiences like... having the opportunity to meet and greet with players of their favourite club, receiving VIP treatment at their favourite stadium & much much more. To obtain Fan Tokens, fans must purchase Chiliz (CHZ) Tokens via Socios.com which then can be used to buy $SCCP Fan Tokens.
Fan Tokens are initially sold in a Fan Token Offering or FTO. FTOs are the initial sale of Fan Tokens which allows fans to buy the Fan Token at a fixed price. work in a similar way to flash sales and are designed to be a fair way for new partnerships to launch Fan Tokens on the Socios.com platform at a discount. At pre-launch a proportion of the total Fan Token supply is made available to users before being listed on the worlds first tokenised sports and entertainment exchange, Chiliz.net. This enables dedicated fans to gain early access prior to Fan Token launches which will be made accessible to everyone.
The growing list of partnerships launching their Fan Tokens on the Socios.com platform include some of the biggest sport organisations in the world from the likes of major European soccer teams FC Barcelona, Paris Saint-Germain, Juventus, AC Milan, Manchester City, MMA giant UFC, NASCAR Roush Fenway Racing, NHL New Jersey Devils, Formula One Aston Martin, and the Argentine Football Association
Bitcoin - Low volume foreshadows upcoming liquidity issues The price of Bitcoin stayed flat over the weekend. Additionally, nothing significant has occurred in the cryptocurrency market; therefore, we have no reason to change our bearish views on BTCUSD. This week, we will continue to pay close attention to volume levels hovering around monthly lows and reflecting a little interest in Bitcoin among new investors, making it impossible to reverse the primary trend from bearish to bullish.
Despite that, we continue to see an increase in false calls for the market bottom. That confirms no capitulation has occurred, and indeed, retail investors continue to buy dips, feeding wild rallies predestined to fall later. We expect this behavior to persist throughout the second stage of the bear market, increasing overall volatility.
Additionally, we expect the same from the FED pursuing another rate hike in November 2022. Accordingly, we think this will worsen economic conditions and lead to another selling frenzy. Thus, we remain committed to our price targets and expect them to be hit by the year's end. After that, we expect the market to start slowly progressing into the third stage of the bear market, characterized by the distress selling and abandonment of hopes and dreams among those who once fed the bubble.
Our price targets are 17 500 USD and 15 000 USD.
Illustration 1.01
Illustration 1.01 displays the daily chart of BTCUSD. The red arrow shows declining volume, hinting at liquidity issues in the system. To confirm our bearish thesis, we would like to see a pick-up in volume accompanying a decline in the price.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bearish. DM+ and DM- are neutral. Overall, the daily time frame is slightly bearish; however, the trend is still weak.
Illustration 1.02
Illustration 1.02 shows the daily chart of BTCUSD. The yellow arrow points to the exhaustion we presented a few days ago. Interestingly, the price halted its rise slightly above the 50-day SMA.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Shorting BTC - Sell stop via futures.BTC is showing opportunities to execute risk-adjusted short positions through futures or DMA CFDs (avoid STP brokers). No matter if BTC bounces to the upside, we could also benefit from such situation, and we can place pending orders in order to take advantage of the most likely scenario on a quantitative and qualitative level: a mid-term downtrend.
Operation:
R/R ratio: 1/2.42 (risky)
Risk mgmt: 0.65% of our portfolio risked.
Wealth mgmt: We will average probably at 15 000 with the same R/R ratio.
Timeline: 2-4 months.
Exchange: OKX.
Financial engineering: futures.
Sell stop 1: 16 950.
Stop loss 1: 19 800.
Take profit 1: 10 050.
Sell stop, stop loss, and take profit 2: We will check it in the future.
SHIBA Elliott Wave structure from the bottomSHIBA INU completed 5 waves to the upside as wave 1. Now SHIBA is trying to complete wave 2 as an ABC structure. One more little low will complete wave 5 of C of 2. Note that there is a nice confluence at the end of wave 5 of C of 2 and the 0,618 retracement.
Shorting BTC againIn our last Bitcoin analysis with our TTW (trend-time-weight) system, we clearly positioned our portfolios for a very likely steady decline in the value of BTC with a target of $20K.
Now that we are here, BTC is in a stage 4 (bearish), entering the 210 MA average on the weekly chart (the reference for a bearish market in the mid and long run). Under no circumstances should we find buying opportunities right now if an active trading approach is implemented, only if a passive approach is sought.
Since early summer, BTC has been at a support which, if breached to the downside, the token could reach $11K-$9K levels. The RSI on the weekly chart is clearly bearish, at minus 34, and the MACD is clearly showing a downtrend that we could take advantage of with a quantitative trend-following strategy.
The probability of a trend reversal is actually very small in percentage terms, because the trend should first go through a stage 1, and then stage 2, but now it is still in stage 4, and it is quite a long way off (6-12 months, at least).
In terms of all our chartist, space-temporal, fundamental, economic and manipulative analysis, the most likely scenario is a downtrend to around $11,000 in the next few months.
Of course, we never know the future, and we are also prepared for a bullish pullback even if it is a very unlikely scenario, but professionally I would not see BTC as an interesting buy until the token reaches a value of around $30 000.
Strategy:
- Sell Stop: 16.500.
- 1st Stop Loss (0.25% of our portfolio value): 20.100.
- 2nd Stop Loss (0.5% of the value of our portfolio): 22.000
- 1st Take Profit (50% out): 11.000
- 2nd Take Profit (50% out): 9.000
- Margin requirements, swaps, spreads, execution model..: Depending on the derivatives exchange you use.
Crypto101 - What is DeFi & Blockchain ?Hi Traders, Investors and Speculators📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Whether you've just gotten into crypto trading or you're trying to expand your knowledge on what this space has to offer; this post is for you!
Decentralized finance or DeFi, is a financial ecosystem based on blockchain technology. So lets recap, what Is a blockchain exactly?
Blockchain is a software technology, it is basically computer coding that creates a usable service like an app or website for the public. Most blockchains are entirely open-source software. This means that anyone and everyone can view its code. The first-ever implementation of Blockchain was originally written in C++ (coding language). Blockchain and it's possible use cases was first introduced to the world in the Bitcoin Whitepaper, written by the infamous Satoshi Nakamoto (the pseudonym used by the creator or creators of BTC).
A blockchain is an online database that is shared to many computer networks. This means that if one computer in the network fails, the data is unaffected and transactions carries on. It is not dependent on one single data storage facility. As a database, a blockchain stores information electronically in digital format. A blockchain collects information in groups, known as blocks, that holds many sets of information (like time of transactions, amounts etc.). Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. An online database usually structures its data into tables, whereas a blockchain, as its name implies, structures its data into "3D chunks" (blocks) that link to each other. For easy reference and transparency, each block in the chain is given an exact timestamp when it is added to the chain. The revolutionary innovation idea behind blockchain is that it guarantees the truthfulness and security of data and generates trust without the need for a government/private institution to validate it.
Back to DeFi - In centralized finance , your money is held by banks and corporations whose main goal is to make money . The financial system is full of third parties who facilitate money movement between parties, with each one charging fees for using their services. The idea behind DeFi was to create a system that cuts out these third parties, their fees and the time spent on all the interaction between them. Defi is a technology built on top of blockchain - it can be an app or a website for example, which means that is was written in code language by software programmers. It lets users buy and sell virtual assets (like crypto and NFT's) and use financial services as a form of investment or financing without middlemen/banks. This means you can borrow, lend and invest - but without a centralized banking institution. In summary, DeFi is a subcategory within the broader crypto space. DeFi offers many of the services of the mainstream financial world but controlled by the masses instead of a central entity. And instead of your information being filed on paper and stored by a banker, your information is captured digitally and stored in a block with your permission. Many of the initial DeFi applications were built on Ethereum (which is a blockchain technology, but the code is different to Bitcoin's, in other words it operates/works differently). The majority of money in DeFi remains concentrated there.
Lending may have started it all, but DeFi applications now have many use cases, giving participants access to saving, investing, trading, market-making and more. A prime example of such a market is PancakeSwap (CAKEUSDT). PancakeSwap is a decentralized exchange native to BNB Chain (Binance chain). In other words, it shares some similarities with established platforms like UniSwap in that users can swap their coins for other coins. The only difference is that PancakeSwap focuses on BEP20 tokens – a specific token standard developed by Binance .
The BEP20 standard is essentially a checklist of functions new tokens must be able to perform in order to be compatible with the broader Binance ecosystem of dapps, wallets and other services.
PancakeSwap uses liquidity pools instead of counterparties/orders from other traders. A liquidity pool in this context refers to funds deposited by investors – which can be anyone from around the world – into smart contracts for the aim of providing liquidity to traders. With this system, buyers do not have to wait to be matched with sellers, or vice versa. Whenever someone wants to trade one token for another, they simply deposit the token they have into the pool and withdraw the other token they wish to receive. That said, PancakeSwap is not just for swapping coins. You can also take up the role of a liquidity provider (that is, you can deposit tokens in a liquidity pool for the chance of earning a share of trading fees paid by those trading against the pool in question).
Yield Farming is another income-generating opportunity available on PancakeSwap. With this, you can farm for a token called CAKE. So why would you want a token? Tokens are like the money video-game players earn while killing monsters, money they can use to buy gear or weapons. I personally love collecting my Glimmer in Destiny 2. But with blockchains, tokens aren't limited. They can be earned in one way and used in lots of other ways. They usually represent either ownership in something or access to some service. For example, in the Brave browser, ads can only be bought using basic attention token (BAT). I think I'll cover more on this in another post, otherwise this will become a too long read.
Final Thoughts 💭
Even though banks are slow and inefficient (to name only a few of the problems), there is still something that comes with using a bank that crypto cannot (yet fully) offer - guarantees and peace of mind. At least at this point. I believe in a future where blockchain is easily accessible, open but at the same time protects user privacy, transparent, decentralized and safe. But the truth is, we're still far away from that. Blockchain is in its infancy, being used by too many opportunists and crooks. So be careful when you invest in DeFi. The beautiful dream of blockchain still contains too many scammers that have no intention of cutting out banks; instead they want to get to the bank FIRST.
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CryptoCheck
WBT | WhiteBIT Token | Cup and Handle Pattern | Bullish VolumeWhat is WhiteBIT Token?
WBT is a utility token of the largest European cryptocurrency exchange, WhiteBIT.
The platform was established in 2018 and has already become one of the leading crypto exchanges with 3+ mln users worldwide.
They launched their token on August 22 (this month).
As the price is developing we can see that the first pattern that is taking shape on the 4 hour time
frame is a "Cup and Handle Pattern".
This is a bullish pattern now showing that the price has a very high potential for the next bullish wave.
I am keeping conservative targets for the time being for the 3-rd wave development of the Elliot Wave but it can
also extend up to the 5-the wave and to complete probably higher than the 5-th wave that I have pointed out on the chart.
However considering the increase of the volume that the token should have, considering that it is very new, the price
should rise faster during the coming days.
Thank you and Good Luck!
Types of Cup & Handle Pattern
When The Cup & Handle Pattern is completed in a Bullish Trend it is classified as a "Bullish Trend Continuation Pattern"
When The Cup & Handle Pattern is completed in a Bearish Trend it is classified as a "Bearish Trend Continuation Pattern"
Targets
A minimum profit target for this pattern is the measured distance between the bottom and top of the cup.
This distance is added to the price in the sharing area.
This is the minimum profit target that applies to this model and we should know that the price may also continue the movement of the major trend.
For more details check the idea below:
How is The Cup & Handle Pattern Formed And Traded?:
Chainlink lesson.Today I am posting brief . This is Chainlink on daily chart moving in downtrend channel from ATH above circa 50 $.
It's technically in bear market as other tokens and altcoins, below MA200 weekly.
I added some Fibonacchi and Fib circles. This chart also contains green historical support.
Fractal showing how could, or would progress into a near future.
Fundamentals are also against BTC and Ethereum projects.
Lower mining income could lead them to capitulate.
That way miners difficulty go down.
... that's why and how I 'm think LINK probably melt below 3 Dollars and visit Fibo 382.
Let it monitor.
Emv o.
*This is not any financial advice.