DEGOUSDT
DEGOUSDT Waiting for the falling wedge breakoutDEGOUSDT (4H CHART) Technical Analysis Update
Waiting for the falling wedge breakout
DEGO/USDT currently trading at $17.80
Long Entry-level: only buy after the resistance line breakout
Stop loss: I will update once I see the breakout
Target 1: $24
Target 2: $30
Target 3: $35
Target 4: $40
ALWAYS KEEP STOP LOSS...
Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts.
DEGOUSDT (DEGO FINANCE) - BUY ENTRY ANALYSIS 🔎
- DEGOUSDT hit an ATH and retraced.
- Price retested the flip horizontal support (FHS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a relatively high concentration of buyers at the retest zone.
- The retracement was bounded in the falling wedge (FW-1) pattern.
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance as expected.
- This is a bullish signal.
- The market is currently undergoing a minor retracement, testing the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- This minor retracement is bounded in another falling wedge (FW-2) pattern.
- There's a breakout potential
BUY ENTRY ⬆️
- Breakout above the falling wedge's (FW-2) resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support and 0.786 fibonacci retracement level.
DEGO/USDT short and mid term setupDEGO/USDT pair has formed a double top on 1H timeframe.
The neckline is overlapping with the 0.618 retracement thus making it a key support
In short term, price is expected to move inside the triangle bouncing between 0.5 to 0.618 which gives a potential capture of 8-9%
Once ATR reaches low and bands contract even more lookout for a bearish pattern to enter a short position once 0.618 is breached.
You can even wait for price to re-test 0.618 before shorting
DEGO.USDT (Y21.P1.E1).The one I missedHi Traders,
This came to my attention just too late and I was watching $16 range level to see if there was another opportunity to the upside.
Was watching it this morning but the bullish candle did not come about.
Went shopping for groceries, come back, its done that bullish candle and up it went.
I now have no interest jumping into this as its hit the 1.618 level, I think.
I will now look for a pullback and look for a common trend using the 10/20 ema or structure.
I thought I just put this out there and let you know this project looks good, its new to Binance.
All the best,
S.SAri
After posting this, I explored Kucoin and it seems this has a history.