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. It is important to distinguish the index from other important currencies within the market as not everyone is forming such formations and there are currencies looking rather bullish while others forming more bearish constellations, in this case now the Index is in an indecisive zone however it has the ability to show up with some good potentials when the Index manages to develop the right price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
As when looking at my chart we can watch there how the Index is now still within the range and recently begun to develop this main descending-channel-formation marked in my chart with the blue boundaries, furthermore the Index has the coherent wave-count within the formation and already completed the waves A to D in this flag which is also confirming to the major wave B in the structure. Now the next times the Index is likely to move on with the wave-development and run directly into this decisive confirmational-bounce-cluster where several supports coming together and therefore likely to indicate a bounce to the upside, when this bounce then is strong enough to break out above the upper boundary of the channel-formation this will complete it as a bull-flag and activate the major wave C in the structure from where the Index has the ability to test the upper levels of resistance and when the Index manages a solid stabilization within this zone it can even build up further and approach a wave-C-extension when it manages to sustainably close above the upper-resistance, it will be an interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."
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. It is important to distinguish the index from other important currencies within the market as not everyone is forming such formations and there are currencies looking rather bullish while others forming more bearish constellations, in this case now the Index is in an indecisive zone however it has the ability to show up with some good potentials when the Index manages to develop the right price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.
As when looking at my chart we can watch there how the Index is now still within the range and recently begun to develop this main descending-channel-formation marked in my chart with the blue boundaries, furthermore the Index has the coherent wave-count within the formation and already completed the waves A to D in this flag which is also confirming to the major wave B in the structure. Now the next times the Index is likely to move on with the wave-development and run directly into this decisive confirmational-bounce-cluster where several supports coming together and therefore likely to indicate a bounce to the upside, when this bounce then is strong enough to break out above the upper boundary of the channel-formation this will complete it as a bull-flag and activate the major wave C in the structure from where the Index has the ability to test the upper levels of resistance and when the Index manages a solid stabilization within this zone it can even build up further and approach a wave-C-extension when it manages to sustainably close above the upper-resistance, it will be an interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the market.
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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.