This time frame is more for orientation, where the price (area to work or monitor now) is in the main trend and what is the potential for price decrease/increase from its values now. The exception, this work and analysis is for investors and position traders with large capital, who are not interested in short-term and medium-term price movements for a small %.
The average prices of the accumulation and distribution zones of the last cycle are marked. Previously actively traded this coin, the previous ideas fixed under this trading idea.
Secondary trend — downward wedge. Local trend — a potential double bottom in the case of holding the existing support.
Decrease from the price peak -91%. Profit from the average price of the last accumulation +320% at the moment.
Short work. I would like to point out that the coin, unlike many cryptocurrencies, is in substantial profit. In case the existing support breaks through, there is a prospect of shorting to the designated reversal zones.
Work in the long. I have marked the reversal zone support levels and percentage of them to the resistance zones.
Linear chart. Time frame is the same.
Secondary trend.
Comment
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Local situation in the horizontal channel zone 300 days (10 months). Rollback after an attempted breakout of the downtrend (the entire 1.5 year downtrend secondary trend). Re test of the breakout zone.
Trade closed: target reached
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I haven't updated it for a long time because of the risk/profit ratio. Similarly as on LINK a big bowl is formed after the exit from the horizontal channel of conditional accumulation. At the moment +140% from the channel support. This is half of the target of this formation. An important point is the mirror support level (former resistance) marked in yellow color.
It is a very aggressive "stick" dump. It is important, for the continuation of the uptrend development is the price fixation above this resistance level, possibly through a pullback to the dynamic support of the big bowl (if there is a significant correction in the market). Coin on super profit funds, but very HYIP among the crypto community and youtube bloggers. Just be mindful of this and observe mani management in your work.
@Vetpower, I'm happy to be of service to the trading community.
markjordan_23
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thats nice. do you have a chart on ISP/ISPOLINK because it has similar kind of pattern like a bowl
SpartaBTC
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@markjordan_23, Hello, absolutely all mid-liquid altcoins have the same structure right now. Some are outperforming others, some are lagging behind. All have a big pump bowl formation forming after a trend break.