June's Breakout: AAVE broke the trendline to the downside in June. But this didn't continue as expected; it was a false breakout. August's Breakout: In August, there was another breakout, and this time, the price is continuing in the breakout direction. This means the movement is more reliable. Target Price: Looking at past price data, the 2021 low of...
The uptrend that we´re seeing in the last 3 weeks looks corrective, and I expect it to fail. The yellow zone should provide resistance, and I´ll be looking for short trades targeting 0.019.
In early 2023, ROSE price action token has shown signs of a corrective pattern, following an ABC structure. In this scenario, it's plausible that wave C, the final phase of this corrective movement, is nearing its completion. If the historical low point around 0.0333 maintains its position, we have a potential trade with huge risk-to-reward ratio. With this in...
After successfully completing the 5-wave pattern shown in my last post, Bluezelle is now in correction mode, Wave A seems finished, and wave B is underway. We should soon see further price drops. Note that major round 1.00 could serve as solid support.
Aragon is showing consistent bullish behavior since mid 2022. The 2-month long sideways correction should lead to new highs above 5.00 soon. A stop-hunting event is a possibility, but it would be an opportunity to take long trades.
I expect another leg down in LINK for wave V. Corrective wave 4 is not very well defined, so we may still have choppiness before a clear wave 5. In any case, for the time being I´m only looking for short trades.
The bear flag shown on the previous post was broken, and the initial downside target was hit. RSI divergence is still not present, so I expect further price drops after the current sideways correction.
The bear flag has been broken to the downside, and there is a high probability that we will set new lows soon. Initial target is 2021's low at 0.472. Pullbacks to the upside are selling opportunities.
We have broken down from the trendline, and the yellow target box has been reached. Since we don't have RSI divergence, I still expect another lower low under 0.612.
We got another lower low as expected, and this time we had long wick with bullish divergence. I will be watching for a reversal pattern as long as we stay above the purple line. Ideally, we'd have a break of the gray descending trendline, but I may enter a small position earlier depending on price action.
My current wave count considers we're in wave 4 correction, and I expect further upside from here, targeting June's high. This favours BTC when compared to altcoins.
Price is consolidating below 0.1750 resistance (in gray), and I expect another lower low below 0.1507. We could also see a fakeout to the upside above resistance, but if it fails it will trigger a short trade for me.
In the short term, I expect another leg down before wrapping up wave C. The gray trendline should offer some support, and I'll have to wait for further price action before deciding on my next moves. For now, I'm looking for shorting opportunities.
Even though the green descending trendline was broken, I don't consider this a bullish signal. The more important gray trendline is still holding, and we are below major $10 resistance. I expect a new lower low under $6.69.
I expect DYDX to continue its downside for a new lower low below 1.37. RSI hasn't yet shown divergence, and there is a major resistance confluence zone around 2.30. I'll only be looking for SHORTS unless this resistance is broken.
The gray descending trendline was broken, but in a bear flag formation, which was broken (green line). The trendline is now service as support, and I still expect new lower lows for wave 5, targeting 0.0491 initially.
The downtrend is continuing below the black trendline, but we have the conditions to consider the correction to be in its final stages. I´m still waiting for a reversal pattern, which initially would be a break above the purple line.
The descending wedge that began over a year ago is still being played out, but we seem to be in its final stages. My primary count considers we´re in Wave C of 5, and the bottom trendline of the wedge could hold price. The first bullish signal I´ll be watching is a breakout from the top trendline.