🤾‍FOR- Macro channel, accumulation has entered the support area
The price has been consolidating in the lower part of the channel for few month now. The current price action is similar to what had place last year(explained on chart) If the price bounces off 200EMA again, creating a potential double bottom visible on lower timeframes, it could be treated as a confirmation for that the accumulation has ended, and that the price is going to push towards resistance(red area)
The idea remains valid as long as the price holds above the area of support(green) / 200EMA / dynamic support(blue). If all three are lost, we can expect the price to find support at key level (0.58x) or secondary support zone from resistance flip. But that would be over >40% drop, so it would probably take the whole market to collapse in order for that to happen.
Entry: buy as close to 200EMA as possible
Targets:
-use visible trendlines for dynamic targets
Static targets:
0.08x
0.10x
0.13x
0.17x
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About FOR:
ForTube, previously known as the Force Protocol, describes itself as a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. Its main aim is to offer crypto-finance solutions to developers through its software development kit (SDK) and application programming interfaces (APIs) for decentralized application (DApp) development.
The platform offers solutions for cross-platform asset transactions, cross-chain communications, crypto-asset-backed stablecoin insurance, token board insurance, and on-chain payments. The Force Protocol project is a decentralized protocol layer that is developed and managed by the Force Protocol Foundation Ltd.
ForTube launched its decentralized finance (DeFi) service on the Binance Smart Chain (BSC) in September 2020.
ForTube offers many advantages, including flexible support of globally popular cryptocurrencies that provide higher yield combinations and an upgraded algorithm and ledger structure that significantly reduces gas costs. It also has a robust technical framework with more secure smart contracts.
Source: coinmarketcap
The idea remains valid as long as the price holds above the area of support(green) / 200EMA / dynamic support(blue). If all three are lost, we can expect the price to find support at key level (0.58x) or secondary support zone from resistance flip. But that would be over >40% drop, so it would probably take the whole market to collapse in order for that to happen.
Entry: buy as close to 200EMA as possible
Targets:
-use visible trendlines for dynamic targets
Static targets:
0.08x
0.10x
0.13x
0.17x
--------------
About FOR:
ForTube, previously known as the Force Protocol, describes itself as a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. Its main aim is to offer crypto-finance solutions to developers through its software development kit (SDK) and application programming interfaces (APIs) for decentralized application (DApp) development.
The platform offers solutions for cross-platform asset transactions, cross-chain communications, crypto-asset-backed stablecoin insurance, token board insurance, and on-chain payments. The Force Protocol project is a decentralized protocol layer that is developed and managed by the Force Protocol Foundation Ltd.
ForTube launched its decentralized finance (DeFi) service on the Binance Smart Chain (BSC) in September 2020.
ForTube offers many advantages, including flexible support of globally popular cryptocurrencies that provide higher yield combinations and an upgraded algorithm and ledger structure that significantly reduces gas costs. It also has a robust technical framework with more secure smart contracts.
Source: coinmarketcap