As you can see we are inside a channel....
And maybe this channel will be followed some more time and we can trade with this easiest trading method.
Remember: Price can go up from here but if we enter now that will he risky so we should enter only if it follows this channel
$XDB is trading on a critical support level.
A break of $0.0044 will send the coin to $0.0025 Oct. 6th low
There is a high volume now compared to the past. Trend change may occur soon.
Would be great to go long after confirmation of daily close above 20 SMA with the 1st target of the Oct. 11
Fundamental:
Community update on 31st Oct.
-Tokenomics clarification...
Inverse H&S / potential bottom at 0,06 played out well yesterday for #XDB #DigitalBits
We now would like to see an 4h uptrend. If we can continue the uptrend my targets are:
tp1: 0,01226
tp2: 0,01668
tp3: 0,01958
Hey did you enter the trade seeing my idea?? I said 50-50 chance, which is converted into 100 now😝
We have reached our target of 0.0058!! Now XDB is going to face some resistance between 0.0058 - 0.0065
If it can stay above 0.0065 then we can expect 0.0073 - 77 which will work as the hardest resistance......🤑
Btw trade safe, stop gambling
Here is the analysis...
Entry is 0.0048
Stop Loss 0.004
Target 1- 0.00535 (25%)
Target 2- 0.0058 (remaining 75%)
This is very risky, a 50-50 chance so trade at your own risk because stop loss price will consider a 14% loss. And Target 2 will give 24% profit.
Important: You can use 0.00555 as TP 2 if you want because that is also a resistance
Don't forget to follow if my idea is...
As you can see last two times when the rsi reached over bought area, the price action moved down heavily. So it is not a good time to trade long in XDB. It is on the way to the earth from moon. So trade safe
In my previous analysis, I said about ABC correction. At first I was able to identify possible Correction pattern, and later I updated it. But my first one was correct and second one was wrong. Bad luck😐
Now as you can see the marked support levels are
0.0060 - 0.0064
0.0044-0.0048
0.0034- 0.0038
And next Resistance Levels are
0.0084-...
In some of my previous analysis, the wave 3 was shorter. But basically in elliot impulse moves, the 3rd wave is the biggest wave so if we try to redraw, we can see this elliot impulsive move which is most probably ended now. And now we are in ABC corrective patter.
This analysis is from a totally different prospective in comparisn with my previous one. And you...
In my orevious analysis I said we are reaching 0.0087 from 0.0063 soon and target reached before 12 hour. I also told about a mistake Which was mafe by me identifying the wave 3 of elliot impulse.
but now we have identified the correct wave and now we are ready for a ABC correction where the wave A and B is maybe already completed and now we will go for wave C...
The risk reward ratio is goodin this trade, but it is risky.
Target is 0.0081 and stop loss is 0.00705
Entry is 0.0073
Always do your own analysis before you enter any trade as it is not a financial advice.
Good Luckk
This chart is a little updated from my previous one. After completing 12345Elliot wave, now we are in ABC corrective wave where we are now confirmed about the wave A and B. Now we are waiting for wave C. Personly I am targeting 0.0097-0.0098 in wave C.
If we look at the RSI, it will be in the over sold territory in next 1/2 hour.Then we will be ready for wave...
Here is some correction in ABC wave from my previous analysis. We are going to break above the trend line if volume keeps increasing and can easily reach 0.01
RSI looks bearish, Retesting trendline resistance for the 4th time and some significant volume increase in last 2 hour. I really can't tell what is going to happened from here, maybe a break above
In my previous analysis, I told that we are going to 0.0065. And yes it reached 0.0067 then pumped.
Now you can see the price movement has comoleted a 12345 ellito impulse and now it is the time for ABC correction.
RSI is also at over sold terratory which signals possible bullish scenario.
I think we will reach 0.0081 first, then some pullback and then up to...
