At the moment, the price is squeezed between the zone of the 0.666 and 0.555 levels. Instilling uncertainty in price movement, eliminating expectations of quick profits. Probably you shouldn't feel the illusion that it is the "psychology" of the crowd's behavior in the market that forms patterns and clamp the price at such interesting levels. The crowd is waiting for a pump, but it’s not there, maybe because they are waiting? The price at the moment is near an important zone, which determines which trend will develop in the next 2 weeks. Trade with the trend towards its development. Timeframe of the chart is 4 hours.
Under the trading idea I attached my previous trading ideas for a given coin.
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Ripple returned to zone 21 after removal. Perhaps before the freebie distribution on December 12, they will be pumped.
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work in the local channel formed during the price movement along the downtrend trend. Pay attention to how yesterday the feet were knocked out to the shorts (squeezes are higher than the channel resistance). Also, pay attention to how all local straits are redeemed for a large percentage. At the moment, the price has stopped at the level of 0.51651 51/6/51 (666) in the middle of the channel (the level of the trend reversal on November 27). The numerical value shows what is happening locally and a warning for large market participants so as not to interfere. Work from zones. Long only when the price consolidates above the red line (downtrend) or from the channel bottom zone.
Сделка закрыта: достигнута тейк-профит цена
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Local target reached 13.22%. From the specified level 666 in the middle of the channel (reversal zone) to the specified level (zone) is exactly 13.22%. Note how exactly in time we entered the specified zone, the price and at the specified time.
Сделка закрыта: достигнута тейк-профит цена
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+ 17% from yesterday's reversal zone. If we break through the resistance of this local channel, there will be strong growth
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+ 11% from the reversal zone (above the resistance of the local channel) In total, about 25-30% from yesterday's entry point. The trend is developing
Honestly, it needs to go lower, we need to see 0.50 again to offer more buy in chances, bounce off the support and then we will see another rush toward 1
SpartaBTC
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@DzouSisohvat, Yes, if the price went down It would be good for further growth.
Zeke704
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Daily MACD is telling me we are going down further.