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Cheems / Tether USD PERPETUAL CONTRACT

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CHEEMSUSDT.P trade ideas

CHEEMS ANALYSIS (1D)The correction of this asset has started from the point we marked as "start" on the chart. It appears to be an ABC correction or a more complex pattern. It seems that this correction is forming a Flat, and we are currently in wave B of this Flat. Wave B itself is a Diametric, and we are now in wave e of it. The expected price action of this coin is illustrated on the chart. The closure of a daily candle above the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
CHEEMS/USDT Analysis – Potential Breakout Ahead?On the daily timeframe, CHEEMS/USDT is showing a clear ascending triangle pattern, indicating bullish pressure as the price forms higher lows while facing resistance around the upper trendline. This pattern is commonly seen as a continuation pattern in uptrends. Key Levels: Resistance: Around 0.00000102 USDT Support: Around 0.00000095 USDT Indicators in Play: Volume: A slight increase in volume near the trendline suggests buyers are gaining control. A breakout with high volume above the resistance level will confirm the bullish momentum. EMA/SMA: If moving averages (e.g., EMA 50 or SMA 200) are included, they may serve as dynamic support or indicate overall trend direction. RSI: Check if RSI is nearing the overbought region (above 70), as this could indicate a potential correction before a breakout. Potential Trade Setup: Entry: Wait for a confirmed breakout above 0.00000102 with significant volume. Target 1: 0.00000120 (short-term target based on the height of the triangle). Stop Loss: Place below the last swing low around 0.00000093 to manage risk. Bearish Scenario: If the price breaks below the support line at 0.00000095, we could see further downside, possibly toward 0.00000085.
Long
by Tradeaione