MAPS up 650% from bottom. Given the low volume on the candle, I'm not convinced it is the bottom. Seems like it will continue slowly bleeding, not much of interest at all. Fundamentally, with the FTX issues and their connection to MAPS, it seems like a lost cause.
MAPS is an interesting coin because it bottomed in January 2022, and had a 2600% rally through April. Reaching the 9 cent area again would pose a reasonable risk/reward, but is definitely not a guaranteed trade.
Setup: Maps has just broken down from its support, signaling a new trend to come.
Entry: 0.2702
Trailing SL: 1 ATR above the 9 EMA( currently at 0.2925)
TP: 0.1
Maps has made a parabolic move to the upside almost 12X in just 54 days. But if you look at the larger picture it has been in a downtrend. Its been making lower highs. Also made a lower low since the beginning of the chart. This recent move also looks like a 3 wave move to me.
Currently its sitting near trendline resistance. This is also a important Fibonacci...
Normally I'd look for more but this coin doesn't tend to need much of a spark to continue it's rise so i will be targeting near the highs on this trade.
Background:
MAPS has rallied far harder than the rest of the crypto market posting ~8x in 2 weeks. Given that Bitcoin is now trading under resistance (bearish short term thesis for all crypto positions), a hard pullback in MAPS seems likely. Bearish divergence on the H4 RSI coming down from "overbought". Trend angles increased then decreased suggesting momentum is...
$MAPS is trying to do an edge to edge (e2e). If that is what happens, #MAPSUSD may end up above $0.4993 and can go as much as $07528
Also a local bottom likely has been made.
We have a Bullish 3 Line Strike Setup on the 4 Hour; This coin has been performing extremely well Bullishly since the crash so I wouldn't put too much on the line here but it's looking setup to give us a Major Bearish Reversal from here so you might find it worth the shot.
We also have 4 hour Bearish Divergence on the RSI so that's nice.
We had a huge drive down today and hit the PCZ of a "Makeshift" Gartley I was thinking it could be a Crab but a 1.618 wouldn't make much sense here so the closest thing to a clue we have is this "Gartley" we may see a reaction rally from here.
With countries gearing to open up soon with vaccination in full drive, apps like maps.me will be extremely profitable.
Users will travel more. And search & discover, tourist guides and navigation available offline all over the world will be a key component.
1,432,096 RATINGS getting 4.8
Alameda Research already invested $50 million direct investment in...
$MAPS is currently setting up for a nice swing to the up side after makeing a new high last week we are currently setting up for a run at the $2 range.
Low risk due 0.50 Cents being protected currently by IEO Buyers makes it a low risk trade with a ratio of 40% risk and up to a 162% return.
This Token is currently tradeing on FTX
