XCH /USDT (Chia) Main trend. Horizontal channel 11.6 months
Logarithm. Time frame 1 week. Main trend.
Maximums trend. False targets.
KuCoin exchange chart. At the peak of pumping, under the bull market hype price was 1600 (OKX exchange, where there is also a significant volume of trades). This price should not be considered in TA because it was made (more than 2000$) at listing and with super low liquidity. Resistance levels (target sell zones) are marked in different colors for clarity. Remember, the less you set targets in the trading tools (coins), the more you earn at a distance in the market.
The horizontal channel zone (accumulation of almost 1 year).
At the moment of publication, the price has been moving for 350 days (11.6 months) in the parallel horizontal accumulation channel with the step of 108.4%. This is a good sign. The price is now in a squeeze (the average price of this accumulation).
This is what the trend looks like on the line chart.
Stop Loss Zone. Rationality of the strategy.
I would like to emphasize that the stop loss under the support of this accumulation has not been knocked out (reset) at this point. This is not a mandatory action, but it is common. Just keep it in mind and consider it a conditional temporary risk, so to speak. To minimize this contingent risk, use a stop loss or, more rationally, work at an average buy/sell price. Let me remind you again that the price is now clamped with orders on the exchange (it has been there conventionally for 6 weeks) and this is the average price of this parallel channel.
I deliberately showed the percentage values of the main support/resistance zones in case of the price compression (6 weeks in a very narrow range) on the chart for orientation and understanding of the logic of work.
Secondary trend Time frame 3 days
XCH /USDT (Chia) Secondary trend. Channel.
Maximums trend. False targets.
KuCoin exchange chart. At the peak of pumping, under the bull market hype price was 1600 (OKX exchange, where there is also a significant volume of trades). This price should not be considered in TA because it was made (more than 2000$) at listing and with super low liquidity. Resistance levels (target sell zones) are marked in different colors for clarity. Remember, the less you set targets in the trading tools (coins), the more you earn at a distance in the market.
The horizontal channel zone (accumulation of almost 1 year).
At the moment of publication, the price has been moving for 350 days (11.6 months) in the parallel horizontal accumulation channel with the step of 108.4%. This is a good sign. The price is now in a squeeze (the average price of this accumulation).
This is what the trend looks like on the line chart.
Stop Loss Zone. Rationality of the strategy.
I would like to emphasize that the stop loss under the support of this accumulation has not been knocked out (reset) at this point. This is not a mandatory action, but it is common. Just keep it in mind and consider it a conditional temporary risk, so to speak. To minimize this contingent risk, use a stop loss or, more rationally, work at an average buy/sell price. Let me remind you again that the price is now clamped with orders on the exchange (it has been there conventionally for 6 weeks) and this is the average price of this parallel channel.
I deliberately showed the percentage values of the main support/resistance zones in case of the price compression (6 weeks in a very narrow range) on the chart for orientation and understanding of the logic of work.
Secondary trend Time frame 3 days
XCH /USDT (Chia) Secondary trend. Channel.
Comment:
🟢 Exit from the accumulation without taking a stop loss.
But it's possible to exit from the accumulation without taking a stop loss. The average price of the set in the accumulation is important, the minimum prices are not so important. As a rule, silly money hunters, i.e. new traders and hamsters, hunt for the minimum and maximum of the trend.
The foundation of this blockchain.
Total capitalization is only $1 billion. And that's including those coins that will only be mined in "decades." Conventionally speaking, there are only $265 million worth of coins in circulation right now, which is very small for an L1 blockchain and an ecosystem with 100,000 daily active wallets.
According to the Stock To Flow model (mining complexity), the fair price is now at $250. At the peak of the next cycle, the price should obviously be much higher...
$34 - now.
$250 - 7,3X
$340 - 10X.
In the next cycle at market peak (more than half time has passed since the previous market high) in the distribution such an asset (average liquidity and this is important) usually shows from average price to average sale show 5 - 15 X depending on how much money is thrown on marketing and how inadequate the overall hype at the peak of the bull market.
A big plus of this asset is that it is not a scam and has its own blockchain with potential application and development.
But it's possible to exit from the accumulation without taking a stop loss. The average price of the set in the accumulation is important, the minimum prices are not so important. As a rule, silly money hunters, i.e. new traders and hamsters, hunt for the minimum and maximum of the trend.
The foundation of this blockchain.
Total capitalization is only $1 billion. And that's including those coins that will only be mined in "decades." Conventionally speaking, there are only $265 million worth of coins in circulation right now, which is very small for an L1 blockchain and an ecosystem with 100,000 daily active wallets.
According to the Stock To Flow model (mining complexity), the fair price is now at $250. At the peak of the next cycle, the price should obviously be much higher...
$34 - now.
$250 - 7,3X
$340 - 10X.
In the next cycle at market peak (more than half time has passed since the previous market high) in the distribution such an asset (average liquidity and this is important) usually shows from average price to average sale show 5 - 15 X depending on how much money is thrown on marketing and how inadequate the overall hype at the peak of the bull market.
A big plus of this asset is that it is not a scam and has its own blockchain with potential application and development.
Trade closed: target reached:
price after breaking through the wedge from the capitulation zone (taking out long positions) reached the meridian of the former horizontal accumulation channel now at 38.580 +75%, thus forming a local ascending channel (now at its dynamic resistance. Important local resistance.
Trade active
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✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
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✅ YouTube (Rus): goo.su/vpRzRa2
The average price in flat horizontal channel is near 38$ (it is so on the graph, but in reality it will be higher at the one who manages, more correctly directs the price under the general market situation (liquid exchanges, owners of large volume, developers).
🔴 Exit from the accumulation with the removal of stops.
If the market will allow under the panic to take out to the Stop-Loss channel zone, then the average price can be reduced, but not significantly. Even if the price fails by a large %, even hypothetically to "zero", because "ridiculous volume" is involved in stops (domino effect) and no matter what "illusory sales volume" algorithms will draw on exchanges' charts. This applies to all cryptocurrencies at times like these.
Leave a certain % (usually 20-30%) of the position in case of force majeure ("Black Swan"), the main position volume should always be recruited in the main recruitment zone of large market participants:
1️⃣ it is possible by trading (Compound Percentage) to increase the existing position (rationally) by volatility, the range of the accumulation channel,
2️⃣ it is possible by trivial market purchases at any price in the accumulation zone (less rational, but acceptable).