1INCHUSDT trade ideas
1INCH/USDT 4 HOURS UPDATE Welcome to this quick Update, everyone.
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1INCH/USDT just broke out the channel and already retested it.
Entry: CMP or upside support level of the channel.
Targets: 30%TO 40%
Stop Loss: $1.72
What's your thought on this?
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Retest the resistance as support and off we go1INCH broke through the macro resistance that has sat above its heads for a few months now. It managed to break through it helped by the bitcoin rally. Think there will be a load of volume and long positions take if we dip back down towards the resistance line and hopefully it can be turned into a support. 1INCH / BTC pair could look better but with time it will also flip bullish
1INCH - Short TF potential move & retest targets1INCH followed the market with a big sell off. initially having a fakeout to the upside of a near symmetrical triangle to then drop 30% below the bottom of it. Now forming 3 HLs on the hourly, the RSI is on the move upwards above the signal line. An entry on the retest of the signal line would allow for a 40% target to the tip of the symmetrical triangle which coincides with Januarys VWAP end price.
On a larger time frame, should the January VWAP flip into support, the next target would be the December VWAP, sitting at 2.81, which coincides with the 50% point of the July to September rally. the 0.618 fib level above this is 3.09, with the golden pocket at 5.20-5.49.
These targets face resistance levels on the way, but with the option of a tight stop loss of 3.5% below the first HL set a few days ago. This offers the potential for a very good risk-reward ratio.
Target 1 - 2.17
Risk/Reward = 10:1
Target 2 - 2.83
Risk/Reward = 20:1
Target 3 - 5.22
Risk/Reward = 60:1
1INCH trying to break through the resistance.Like the entire 1INCH market, he built a local growth line in 4h intervals. However, we must observe the behavior of BTC which has the greatest impact on what is happening with the market. it is worth noting that higher lows have been built, while the highs are getting lower.
1INCH/USD - Potential 108% SetupHello Traders!
The price of 1inch has tested the strong support level of $1.58. The RSI indicator on the daily timeframe shows that the asset is oversold.
It is possible to consider purchases in the range of $1.42 - $1.58, counting on the correction of the downward movement.
It is worth closing the position by a stop-loss if the price goes under the support level of $1.05.
The targets are Fibonacci levels:
$2,50
$2,83
$3,17
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice