How a professional trader analyzes an oscillator chart that workI analyzed the #TRB/USDT coin today, May 9th, with composure and elegance. Let's discuss the price movement with only a few Fibonacci variables and the GF1 Quantum indicator. We can observe that the asset broke a 17-day range on May 1st, 2024, in addition to forming a double bottom, confirming institutional presence defending the $44 price level. This indicates institutional interest from significant players. Following the breakout, we saw three Elliott wave expansions, currently in the third wave, possibly heading towards a fourth corrective wave before initiating another impulsive wave, which would be the fifth on the 15-minute timeframe. Currently, it is within a range where buying and selling are allowed, favoring the uptrend of this timeframe. Buy at $114, the range's base, and sell at $142, the range's high. We also anticipate price consolidation for approximately 160 candles based on previous periods and forecast technique, defining an important zone to break on May 10th, potentially leading to fakeouts and more purchases between $100 and $114, with $90 being a gift and $71 being excellent. Implement DCA and capitalize on the uptrend. Note that liquidity will first be generated at daily and monthly maxima zones around $149, heading towards the boss zone of the quantum indicator at $180, potentially testing the annual opening at $200 and higher levels. According to our GF1 Quantum indicator, the correlation over the last 8 days is below 50% for BTC and 61.5% for dominance, suggesting that BTC dominance currently has more influence on the TRB asset. Therefore, if you desire real-time future predictions, observe Bitcoin dominance according to our GF1 Ultra indicator board to anticipate next steps. Based on my analysis, we may experience a short-term correction, but the preference is for purchases as it is at the base of the range. Work the range: if it breaks above the range's maximum, buy; if there's a fakeout, sell and wait for a valid breakout. Work with these levels to enter at the ideal moment without turning it into a gamble. After all, you want significant profits and volatility at the right moment.More information read the chart.
Disclaimer: Before proceeding, please note that the following information is based on technical analysis and should not be construed as investment advice. Always conduct your own research and, if necessary, seek advice from a financial professional.
