Hello Traders Investors And Community,
Welcome to this analysis about the DEFI Index, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. The DEFI Index since a ceratin time now is trading at a downside price-action however this bearishness is not completely strong for now which means the possibilities for a reversal are given, in this case now I discovered a very interesting formation that can lead to great breakouts when the Index shows up with the proper price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements ahead next times.
Structural Developments:
As when looking at my chart we can watch there how the Index developed this major descending-triangle-formation marked with the boundaries in blue, within this formation the Index has the coherent wave-count with the waves A to C already completed and with the wave D now running directly into the upper boundary of the triangle which is likely to be the origin of the main wave E the next times that also already begins to form at the moment. This wave E will protract and move on till there is support found in which the wave-count has the ability to bounce and back-up leading to a breakout above the upper-boundary and therefore to completion of the formation with activation of upside-targets.
Upcoming Determinations:
Taking all these factors into the consideration the Index has formed this major decisive formation that can lie ground for a great breakout, in this case, it is inevitably necessary that the Index does not fall below the lower-supports and increase with bearish pressure because such a price-action will invalidate the whole formation and bullishness is firstly out of sight. Taking all these factors into the consideration now it will be important the next times on how the Index completes the wave-count and how it manages a proper sufficient bounce in the given supports to complete the formation, till then we should keep patient and wait for these validations, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about the DEFI Index, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. The DEFI Index since a ceratin time now is trading at a downside price-action however this bearishness is not completely strong for now which means the possibilities for a reversal are given, in this case now I discovered a very interesting formation that can lead to great breakouts when the Index shows up with the proper price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements ahead next times.
Structural Developments:
As when looking at my chart we can watch there how the Index developed this major descending-triangle-formation marked with the boundaries in blue, within this formation the Index has the coherent wave-count with the waves A to C already completed and with the wave D now running directly into the upper boundary of the triangle which is likely to be the origin of the main wave E the next times that also already begins to form at the moment. This wave E will protract and move on till there is support found in which the wave-count has the ability to bounce and back-up leading to a breakout above the upper-boundary and therefore to completion of the formation with activation of upside-targets.
Upcoming Determinations:
Taking all these factors into the consideration the Index has formed this major decisive formation that can lie ground for a great breakout, in this case, it is inevitably necessary that the Index does not fall below the lower-supports and increase with bearish pressure because such a price-action will invalidate the whole formation and bullishness is firstly out of sight. Taking all these factors into the consideration now it will be important the next times on how the Index completes the wave-count and how it manages a proper sufficient bounce in the given supports to complete the formation, till then we should keep patient and wait for these validations, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.