Long
REEF/USDT Parabolic recovery incoming? Signs are flashing
REEF starts some serious recovery and did now break upwards the 0.0165$.
We now were in a downtrend for at least three months.
If we can break this trend and head towards an uptrend we expect to hit the 0.05$ line soon again.
The next potential resistance is still 20% away.
Daily chart on the left hand side:
- We see a strong recovery which could take some more weeks according to the current price position and the recent ATH .
- On the RSI side we passed the 70 line which is a warning flag that we go up very fast.
- Volume increases steadily which is a bullish sign.
4h chart on the right hand side:
- We see a golden cross indicated by the yellow camera.
- The RSI is close the 80 line which could be a sign for an upcoming cooldown phase.
The pullback however is not expected to go below 60 according to the yellow line.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
We now were in a downtrend for at least three months.
If we can break this trend and head towards an uptrend we expect to hit the 0.05$ line soon again.
The next potential resistance is still 20% away.
Daily chart on the left hand side:
- We see a strong recovery which could take some more weeks according to the current price position and the recent ATH .
- On the RSI side we passed the 70 line which is a warning flag that we go up very fast.
- Volume increases steadily which is a bullish sign.
4h chart on the right hand side:
- We see a golden cross indicated by the yellow camera.
- The RSI is close the 80 line which could be a sign for an upcoming cooldown phase.
The pullback however is not expected to go below 60 according to the yellow line.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
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