PSG/USDT Main trend. Wedge. 21 11 2023Logarithm. Time frame 1 week.
🔵 The main trend is a descending wedge , we are in the final phase of its formation. There has been no breakout (trend break) yet. It is quite possible we are in the minimum price zone of the trend. From a cyclical perspective, we are (the phase of hypothetical peak capitulation can be ignored). As a rule, such altcoins never repeat their highs for obvious reasons (if they do, it's a few out of hundreds, remember that).
📊 Adequate target (with 90% probability to be reached this mid-range of the long-term formation or slightly above). So a perfectly adequate target is +500%, primarily for those for whom trading is "none of their business". Buy and forget for a few months or half a year. To increase money in 5 times without absolute waste of time and news monitoring as for me for such good solutions.
If people hustle in trading, they may not even get what the market “gives”. That's a fact.
📊 Profit can be significantly increased if trade every impulse after the breakdown of this downtrend . That is, the entire timeframe of the participation phase, which is the price movement of the entire year 2024 to the 2025 distribution zone (trend highs, reset phase).
💰 It is worth noting that the fattest earnings are always on trend reversals, i.e. on the breakout (breaking through it).
⚠️ The psychology of people's behavior is always the same:
1) Expensive - always buy eagerly , the next "promising"...
2) Cheap - waiting for it to get cheaper (e.g., now -94% off price highs). Never catch trend lows as well as highs.
3) Trend reversal and momentum +82% - hamster action is canceling "lower" orders and buying "to make time" already relatively expensive. This is how reversal impulses are prolonged. The lower the liquidity, the higher the slippage in % price expression.
4) Real hamsters , who are used to constant price declines, wait for cheapness even after a reversal. If it does occur on capitulation, the price often underperforms previous lows. They have zero reaction. Price even lower - capitulation of expectations. They are already then afraid to buy, even something below the expected price. They will probably similarly buy another similarly "promising" crypto coin in the distribution area, but with a different ticker name. The sansara of stupid money repeats itself .
5) 2024 participation phase - i.e. attracting traffic and connecting the crowd to the trend development. Increase in overall market capitalization. Revival of hope.
🔴 📉 The chart showed the range of the capitulation zone , meaning price is now and below the wedge formation (unlikely) in the event of some force majeure event that affects the entire market. You just need to always keep this in mind and plan for it in your mani management, even if you don't believe in it. 20-30% of USD entry or profit if you are a riskier client.
Line chart .
Simply a classic of technical analysis.
Secondary trend and reversal zone of a long-term trend.
