$SPELL going LONGGonna keep it short.
Bullish: Crab & Bat formation and ABCD exit. An inverse Head & Shoulder creating the last shoulder. We can see this token up to 0.02+ by mid-end this year.
Bearish: We might go short end of this month/Feb. If we do, we test 0.0105 again and complete a perfect H&S.
Use as reference not financial advice. Happy Trading.
SPELLUSD trade ideas
SPELLUSD (1H) Bullish reversalHi Traders
SPELLUSD (1H Timeframe)
Waiting for the upward break of 0.01640 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.01383 would cancel the bullish scenario.
Trade details
Entry: 0.01640
Stop loss: 0.01383
Take profit 1: 0.01790
Take profit 2: 0.02040
Score: 3
Strategy: Bullish reversal
SPELL - approaching stronger buy zonesSPELL is down almost 20% since it breakout to the down side.
BTC initiate current selloff on market, as usual. SPX is also down, retesting previous breakout level.
My next buy orders are at green boxes at 0.5 and 0.618 Fib. retracement. I already bought some smaller allocation.
If BTC closes under 42k we might see some massive selloff on market.
$SPELL token potential loading area for a reversal...$SPELL token is an interesting DeFi project that has landed on almost every major exchange in a short amount of time. Binance just announced listing too in late December. The chart doesn't have much history but from what we can see this area looks like prior support which will create a higher low and new base if it turns. We can also see this is the spot it has turned every time using RSI as the key indicator. I would assume this is the sweet spot for programmed Algos to flip to the buy switch. Let's see how this plays out. Lots of movement so a great one to trade.
SPELL - in rectangle consolidationIt looks like SPELL is inside rectangle consolidation with strong buy at 0.0215$ and sell above 0.0262$.
Bullish:
- strong buy at support zone (nice wick festival here) ✅
- Stoch RSI on 12h and lower time frame ✅
- nice fakeout wick which is bought up quickly ✅
Bearish:
- RSI breakout ❌
- Stoch RSI on D, 3D ❌
Check previous SPELL analysis before breakout:
SPELLUSD (4H) Bearish reversalHi Traders
SPELLUSD (4H Timeframe)
Waiting for the downward break of 0.0210 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 0.0275 would cancel the bearish scenario.
Trade details
Entry: 0.0210
Stop loss: 0.0275
Take profit 1: 0.0170
Take profit 2: 0.0130
Score: 5
Strategy: Bearish reversal
SPELL bearish bat in formation, 30% upside I wanted to post this a while ago but better late than never as this still has nearly 30% move before completion of bearish bat pattern where we could get a tradeable reaction before further continuation to the upside. SPELL has upcoming catalysts in short term.
sell spell
.013 would be generous their is also a possibility that this short is premature and spell will touch .029 before it goes back down. If it will touch .029 it will happen soon. Do what you would like, short long buy sell. I don't care. I just had to type jargon so that I would be able to publish my idea.
Entry point for me would be around .016 but only if i get to dump my ddx beforehand and somehow the timing just lucks out perfectly. DDX is a good investment so is Spell. But my timing could have been worse.
🐻💸
SPELL predictionAfter an aggressive selloff that brought SPELL to sharply to $0.006 in early December, SPELL was able to recover again, and started a new uptrend.
In the second wave, the current trend was able to break its downtrend line and reached today the 0.382 Fib level.
Now the price has been rejected in that area. Moreover, the Stochastic is also oversold on the daily TF and we will probably have a bearish cross on the stochastic in the next hour. Last 2 times that happened, on 3.11 and 9.12, SPELL had experienced a strong move down.
Considering SPELL is up 350% in the last 3 weeks, we can expect a pullback to happen.
We can expect a pullback near the $0.019 area. From there, if the support holds, we might see a bounce again. If the support fails, $0.014 zone is the next support.