A8USD 12/18/2024A8USD Daily Chart Analysis
My initial analysis was spot on, with the first trade netting a +205% profit in just 1 week:
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Current Analysis
BTCUSD appears to be in the early stages of a continuation of its long-term uptrend. If this holds true, altcoins could see substantial benefits, and A8USD shows strong potential to be one of the big winners.
• Initial Move:
After breaking out from an inverted head-and-shoulders pattern in late November/early December 2024, the price exploded +300% to all-time highs within 1 week.
• Current Consolidation:
The sharp move caused an overextension in price, leading to a Bull Flag consolidation over the past week, aligning perfectly with the 10-day EMA. This presents the first significant opportunity to enter long for those who missed the initial breakout move.
• Breakout Confirmation:
Today, price has confirmed the bull flag breakout by moving into all-time highs.
o The MACD is in bullish territory and already above its signal line, reinforcing strong upward momentum.
o The breakout into all-time highs indicates high demand with no immediate resistance to hold back further moves.
With momentum and demand aligning, we can anticipate strong upside moves as volume starts to flow in.
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Trade Setup (Long Position):
• Entry: 0.4526
• Stop-Loss: 0.2905 (-35.82%)
• 1st Target: 1.0727 (+137.01%)
• 2nd Target: Trailing the 10-day EMA on the daily chart.
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Conclusion: The confirmed bull flag breakout into all-time highs, combined with strong MACD momentum and volume potential, signals that A8USD is positioned for another substantial move to the upside.
