✴️ Illuvium Goes Bullish (Easy 125% Growth Potential)Here is one of those charts that I really like;
I like charts like this one because they contain a combination of strong classic signals already confirmed, which translate into a high probability setup... Let's proceed.
We are looking at Illuvium on the daily timeframe, short-term potential.
Trading pair = ILVUSDT.
We have 21% growth potential in a matter of hours or days followed by 69% and finally 125%.
This is all very easy and Illuvium can grow much more.
In late 2022, November & December, we have a double bottom pattern as bullish consolidation zone before a major breakout.
Present day this same pattern repeats but extended happening in July and September/October, that is a double bottom pattern as bullish consolidation zone.
We can see the falling wedge/broken downtrend based on the red lines.
Now, here is where it gets good (strong signals/confirmed), prices are already trading above MA200, a long-term indicator. When we are above this level the long-term potential has been confirmed.
The RSI is great at 78.
Bullish above 50, so awesome at current levels while the MACD is already on the bullish zone with plenty of room available for growth.
Additional supporting signals come from the volume and the fact that the rejection in August happened below MA200. Even while prices are lower today compared to Augusts peak the action is happening above MA200 and this makes all the difference. So prices are still really good yet we have plenty of room left available for additional growth.
This is it.
You can define your own risk of course as the charts can always change.
Prices can move up and down, daily, without warning, so we prepare for all scenarios and have a plan before we trade.
This is not financial advice.
All the charts, analyzes and opinions are shared for informational purposes only.
All the information is shared for educational purposes and for your entertainment of course, I hope you are being entertained.
Thank you for reading.
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Namaste.
