CTXUSD trade ideas
Ctxusd trade opportunityCTXUSD is exhibiting a classic Cup and Handle formation. The price has successfully achieved a breakout above the setup's neckline and is holding firmly above this level. If there is a pullback towards the neckline area, it would present an excellent buying opportunity.
Alternatively, we can dollar-cost average (DCA) into positions towards the neckline zone, as this area is currently holding as a strong support level. It is crucial to exercise caution and apply appropriate money management strategies when trading this setup.
✴️ Cryptex Finance Breaks Out Of A Major DowntrendCryptex Finance (CTXUSD) moved within a major downtrend from September 2021 through October 2023... Wow, more than two years in the red, but this can turn into positive news for those who trade.
As the downtrend comes to an end, a new phase is set to start.
Normally what follows is a consolidation phase and then the bull-market. There is no consolidation phase here.
Since the downtrend was so strong, CTXUSD is likely to move from a downtrend to an uptrend and just as the downtrend lasted for 2 years, the uptrend can extend for years as well. Say this pair goes up the entire year 2024 and half of 2025.
This is not financial advice.
We are not related to this or any other Cryptocurrency project nor Altcoin trading pair. We share our views and opinions of the charts... What we see. The entire Cryptocurrency market looks quite good to me!
Namaste.
Cryptex Finance (CTX)On the above 4-day chart price action has corrected over 90% since early 2022. Now is a good opportunity to go long. Why?
1) A strong buy signal prints. (not shown).
2) Price action resistance breakout.
3) Strong positive divergence between price action and multiple oscillators. This divergence occurs over a 80 day period.
Is it possible price action could fall further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: Don’t know.