This coin in consolidation since march 2020. It was bouncing off from key support levels marked as support 1 and 2. So my aim was get entry within this range which is marked as buy zone. And on NOV 22, 2020 I was able to make entry into this coin and this reached to all my targets within 2 months time period. Reason of such bullish action is it's very long...
I see ETH moving in a range within a parabolic resistance (just like the one which BTC had broken in NOV month) and 100D MA.
ETH was rejected by this parabola everytime in May, August and now in Dec also it's getting rejected.
100D MA has been supporting price everytime during corrections.
PS: BTC dominance and price both are high and increasing.
For the same fractal previously my analysis went wrong, because this wasn't a perfect match. But the current chart shows perfect matching of fractal from the month of May- July matching with mid Nov -present.
I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened.
In the current...
Reliance moved according to scenario considered
So now possibility could be a sideways movement between trend line support and resistance.
And if breakout happens downward then possibility of trend could be till support between 1600 to 1680.
And if breakout happens upward then possibility of trend could be till resistance around green trend line and arch near...
Since August, fractal similar to May month is forming. This fractal is of 3 months (May to July) length and repeats after 3 month (August to October). Fractal holds similarities in price action like continuous rise in price for days, sudden big price fall, low and high in pattern are at same arrangement. This same pattern follows from October onwards.
RIL is moving under an arch shaped resistance. And the green lines drawn shows that slope is decreasing after each big wave. And currently move is very much horizontal. One possible scenario could be that price can reach to highest level of arch at 2400.
Bullish Scenario: After reaching resistance to stay bullish attempts to break resistance could be possible and...