$HAKA (TRIBE ONE) in extremely risky but Bullish Conditions
A project with potential here showing some extremely bullish signs.
Over the past couple of months, $HAKA has shown a lot of bids in terms of worth in there project. I am part of those bids.
After a rally up, you have continued to create noticeably higher lows with a major sell wall at around 47 cents. This formation is known as an Ascending Triangle. Not only is it an Ascending triangle buts it's also an Ascending Triangle after a massive impulse up. The trend has been overall bullish for Haka and I don't see any technical reason on why this project would start dumping hard now unless of course news and project output isn't up to community and investor standards, which so far it has been and it has been clear that the project is in active development
Now, when should we be worried? Well, outside of project related news in a technical standpoint, you can dump all the way down to 34ish cents and the trend would still not be in jeopardy. I would however be worried if we were to reach that critical confluence support zone highlighted in teal between .2451 and .2950 cents and break it.
This would usher in a critical lower low and possibly the beginning of a downtrend. And for a low market cap project, that would usually not be a good sign from where it stands.
What exactly is an Ascending triangle? Well, an ascending triangle is a prime example of accumulation overtime with a major sell wall. After time of accumulation, there just won't be enough sellers at that wall to continue the price down in more cases than not. This would immense in a breakout where we could have two-three targets for an ascending triangle breakout. You can go off of percentage gains from the bottom to the top of the triangle or you can go off size of the pattern structure. Either one is fine and taking profits at both is more than fine. Another target would be about 75% of the measured move.
I will say, TA is not certainty, it's only probability. This isn't bound to happen but it is likely. If HAKA continues to produce good news for investors and traders along with a viable product alongside a bullish pattern implying possible all time highs, you can just scratch these "measured moves". It will probably go parabolic. In that case, good luck on your holdings and I only wish the best of success in your gains!
Just to clarify, this is not financial advise and even if I was a financial advisor, I still would not claim this as financial advice.
Over the past couple of months, $HAKA has shown a lot of bids in terms of worth in there project. I am part of those bids.
After a rally up, you have continued to create noticeably higher lows with a major sell wall at around 47 cents. This formation is known as an Ascending Triangle. Not only is it an Ascending triangle buts it's also an Ascending Triangle after a massive impulse up. The trend has been overall bullish for Haka and I don't see any technical reason on why this project would start dumping hard now unless of course news and project output isn't up to community and investor standards, which so far it has been and it has been clear that the project is in active development
Now, when should we be worried? Well, outside of project related news in a technical standpoint, you can dump all the way down to 34ish cents and the trend would still not be in jeopardy. I would however be worried if we were to reach that critical confluence support zone highlighted in teal between .2451 and .2950 cents and break it.
This would usher in a critical lower low and possibly the beginning of a downtrend. And for a low market cap project, that would usually not be a good sign from where it stands.
What exactly is an Ascending triangle? Well, an ascending triangle is a prime example of accumulation overtime with a major sell wall. After time of accumulation, there just won't be enough sellers at that wall to continue the price down in more cases than not. This would immense in a breakout where we could have two-three targets for an ascending triangle breakout. You can go off of percentage gains from the bottom to the top of the triangle or you can go off size of the pattern structure. Either one is fine and taking profits at both is more than fine. Another target would be about 75% of the measured move.
I will say, TA is not certainty, it's only probability. This isn't bound to happen but it is likely. If HAKA continues to produce good news for investors and traders along with a viable product alongside a bullish pattern implying possible all time highs, you can just scratch these "measured moves". It will probably go parabolic. In that case, good luck on your holdings and I only wish the best of success in your gains!
Just to clarify, this is not financial advise and even if I was a financial advisor, I still would not claim this as financial advice.