FLOWUSDT.P trade ideas
FLOWUSDT// Long OpportunityLooking at the price action, flow has caught quite a bounce. It was previously at the ATH then retested the broken resistance now support and then began to consolidate after which it started to form a descending triangle.
After the drop from BTC on the 25th, Flow along with the other Alts followed suit and at this point a descending channel became validated in my opinion.
I believe that most ALT coin move predictions can be aided using BTC.D. Currently BTC Dominance broke its ascending triangle to the downside and I expect a retest of the broken structure. A retest of that structure will mean that some Alts will move inversely.
Looking at Flow currently, that inverse movement has some correlation to the completion of a move towards the bottom of the channel, testing the trendline and then continuing back up, thus creating a bull flag.
I will post my analysis of BTC.D in the comment section.
It is also possible that FLOW breaks this channel to the upside, seeing that $20 has proven to be strong support. This would likely result in a retest of the top of the channel and likely a test of each Fib Level, pushing to the ATH.
Let me hear your thoughts!
Flow - Going with the Flow?FLOW has good FA, big partnerships, team has proven big hit apps.
Price has peaked at the 4.618 Fib Ext and it is standard to see a drop to at least 2.618 as retracement(marked greedy buy). However, this gem may not retrace that far so l am looking for entry at 3.236 Ext (marked buy) as well as it lines up with market structure too.
This coin should flow into nice $$$, wait and see.
