Stella's chart is straightforward; a sharp upward move followed by a lengthy correction wave unfolded in a big descending triangle pattern. Recently, ALPHA broke the major downtrend line. Let's see how up Stella can go.
A quick recap:
Short-term = within 30 days (1 month)
Mid-term = within 1-3 months.
Long-term = within 6 months.
Long-long-term = 6-12 months or more (can be years).
ALPHAUSD (Stella) has gone through the entire cycle and is now entering the initial phase of the next bullish wave.
The cycle is something we've been looking at repeatedly since the...
alpha looking good down here
could potentially be about to break the down trend
if you got in on my earlier chart it looks like we got the bottom perfect
Hello Traders!
The upward movement of ALPHA was corrected.
At the moment, the price stands near the upper boundary of the consolidation range - the level of $1.10. MA100 is supporting on the daily timeframe.
It is possible to join purchases in the range of $0.95 - $1.05
Stop loss is better to be placed near the price level of $0.65.
The medium-term...
Pretty obvious charting. If we break the prices that we encountered in May then we are in no man land with no resistance, I see us doubling from ATH easily if those prices are broken.
NOT FINANCIAL ADVICE.
Looks like Alpha is a laggard that wants to catch up!
Technicals favourable on the 4H charts, and System Buy Signal is accompanied with volume spike support on a breakout.
