SFPUSDT trade ideas
SFP about to break outBrothers, gents, amigo’s and amiga’s,
SFP went right up after being listed on Binance, where after it made a correction and has been going sideways for a few days now.
When looking at charts; people quite often tend to look at short term projections, but imo you should always zoom out a bit more. Only then you can see the bigger trend (which matters the most).
If we look at the chart we can see the lines beautifully connect and see a big symmetrical triangle building up.
When we interpret the numbers, there should be an impressive breakout right after it breaks the upper trend line. (+2.50 usd imo)
Furthermore, the fundamentals on this coin look good (their monthly strategy for new coin offerings, marketing plans, upcoming listings on other exchanges, teaming up with multiple other top 20 coins).
Be patient, have faith and dyor.
Because at the end of the day; this will be a (rocket)ride you don’t want to miss.
Ciao,
TheKoalaMan
🆓SafePal/USDT Analysis (16/2) #SFP $SFPSFP is still moving sideways around $2.8 and buying force is still dominant, so I think that SFP still has a strong uptrend like Feb 10.
📈BUY
-Buy: 2.7-2.9$
-Buy: 2.3-2.5$. SL if B
-Buy: 3.4-3.6$ if A. SL if B
📉SELL
-Sell: 3.4-3.6$. SL if A
-Sell: 4.3-4.5$. SL if A
-Sell: 5.6-5.8$. SL if A
-Sell: 8.5-8.8$. SL if A
❓Details
Condition A : "If 4H candle closes ABOVE this zone"
Condition B : "If 4H candle closes BELOW this zone"
SFP/USDThere are 2 options so choose 1 of them.
1) wait for the upper trend line to break and pullback. if pull back is successful buy with the stop of 3.1
2) buy near the lower trend line and set stop at 2.65
TARGETS ARE GREEN LINES
good luck
invest the maximum of 7% of portfolio
if you do not use stop loss please do not enter this position.
SFPUSDT (SAFEPAL) - UPTREND CONTINUATION ANALYSIS 🔎
- SFPUSDT hit an All time high (ATH) and retraced to the 0.618 fibonacci retracement level.
- The retracement was bounded in the falling wedge pattern
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- Price is currently ranging in a rectangular consolidation pattern.
- This rectangular consolidation pattern is known as the accumulation phase (Wyckoff method).
- The accumulation phase is a pre uptrend phase (bullish build up pattern).
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the rectangular consolidation pattern's horizontal resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- All Time High (ATH) resistance (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the rectangular consolidation pattern's horizontal support (S1).