🧠We started to rise after falling below the historical low. If a smiling bullish structure can be formed here, then we can attack the short defense point above based on this bullish structure. If the breakthrough is successful, it means a short structure,will be broken. This means we have the potential to continue rising.📈
⚠️Note that this is a conjecture based...
PYTH is ready to make a huge move as it,d grabbed liquidity below and immediately CHoCH to upside on 4hrs TF.... Wait for pullback to the unmitigated bullish OB below and take a long entry from there to previous higher high.....
Always manage your risk
Follow for more market update and trade setup
BINANCE:PYTHUSDT.P could not break the resistance because BTC started its downward decline.
I think this resistance will be easily broken when BTC starts to rise.
Price seems to be holding steady at $0.38, testing it a few times making it a strong support. There's a bullish engulfing candle after two doji cross candles, signalling price reversal. The MACD is also about to cross which will be the confirmation to enter a long position.
This looks to me a lot like a falling wedge, which is a bullish pattern. Being as how they retrace to the beginning, it's potential target price would be .55 cents.
Like some other newer to CEX tokens, PYTH seems to be respecting fib extensions. These are pretty hard to chart since they are so new. The chart history is small and the token did launch at a rather large market cap. Volume has dropped harshly as well as RSI, cool offs are good for consolidation. The token did break the multi day downward trend dawn with the red...
PYTHUSDT is showing signs of rejection at the fibonacci levels of the previous leg on the 1H timeframe which could mean that the pullback may be coming to an end.
I'm buying PYTH around that levels, but will add more after the descending trendline breakout.
The chart on the left represents the square of 9 levels - dynamic - with selected top at the recent local high projecting downward. Invalidation would most likely be above the 2/1 Gann fan line.
The chart on the right is the local box, that if it holds should be interesting to watch and trade imo with keeping in mind that the invalidation is pretty close lower.
PYTH looking to liquidate the buy side before another leg up
Wait for entry below and take from there…. There is unmitigated bullish OB on 30mins TF….
Don’t get induced by longing PYTH from here
Wait for entry and take from there
Follow for more market update and trade setup
PYTH did a really good run to upside but as we can see
PYTH did a liquidity grab to the upside this more by creating CHoCH but later did CHoCH to downside which makes it obvious downside is the movement…..
Wait for retest of the entry price and take a good short from there
Manage your risk
Follow for more trade setup
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