Hello everyone,
I want to clarify that what I'm about to say does not constitute financial advice. My intention is simply to observe and share insights with you.
Best of luck!
Cryptex Finance (CTXUSD) moved within a major downtrend from September 2021 through October 2023... Wow, more than two years in the red, but this can turn into positive news for those who trade.
As the downtrend comes to an end, a new phase is set to start.
Normally what follows is a consolidation phase and then the bull-market. There is no consolidation phase...
On the above 4-day chart price action has corrected over 90% since early 2022. Now is a good opportunity to go long. Why?
1) A strong buy signal prints. (not shown).
2) Price action resistance breakout.
3) Strong positive divergence between price action and multiple oscillators. This divergence occurs over a 80 day period.
Is it possible price action could...
I think we would get a small bounce here as things are pretty oversold, yet momentum starting to shift upward. Hoping some volume will come in and confirm my thesis. Not financial advice, DYOR.
Look at this structure on log scale. Isn´t this beautiful? We have triangle pattern and 1:1 target is around 150 dollars. If this daily level holds as support and we break weekly level, this move upside is possible. I am in, pray for me :)
