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INJ / TetherUS

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INJUSDT trade ideas

$INJ/USDT - If you like wedges, don't fade this one (NFA)CRYPTOCAP:INJ (Injective) to reach out wedge pattern resolution. A break on the upside with the 4h candle closing above the newly formed wedge (with a possible re-test and rejection) could propel CRYPTOCAP:INJ to $54-55 levels (a 50% upside from current levels - measured move from wide part of formation). Same pattern played perfectly during last leg up - wedge formation started end of Oct' 23 with a breakout (Dec 8) and retest on Dec 10, resulting in a 50% upside.
Long
by ZSogard
RABW, Complex HNSIm seeing a complex Head & Shoulders combined with a Right Angle Broadening Wedge pattern. Both are bearish, so we are heading back to the LTL of the D1 triangle pattern. Bulls are looking for support from the 618 and bears should have already taken an entry. It's worth mentioning that on the H4 and the D1 there are already bullish harmonics that have failed (bearish), but the 618 has held firm to date (bullish). If the bears have not already entered a short during consolidation, then the conservative bears are looking for an entry on retest of the LTL after breakout. Honorable mention on this chart goes to the D1 Tweezer Tops markup that just supports the turn bearish.
Short
by MtGoxFX
Support-turned-Resistance Structure with Bullish MACD DivergenceSupport-turned-Resistance Structure with Bullish MACD Divergence and Volume Profile Analysis Summary: This trade proposal focuses on identifying a support-turned-resistance structure around the 33.75 level in Injusdt. Previous resistance turned support, combined with a bullish MACD divergence, suggests a potential buying opportunity. Utilizing Volume Profile analysis, we aim to determine profit-taking levels near the upper boundary of the 70% volume area. Technical Analysis: Support-turned-Resistance Structure: The 33.75 level has previously acted as both resistance and support, demonstrating its significance in the price action of Injusdt. After being breached twice, it now serves as support, indicating a potential shift in market sentiment. Bullish MACD Divergence: A bullish divergence has been observed in the MACD indicator, where the price forms lower lows while the MACD forms higher lows. This discrepancy suggests weakening bearish momentum and a potential reversal to the upside. Interpretation: The confluence of the support-turned-resistance structure at 33.75 and the bullish MACD divergence provides a compelling case for a bullish trade. By utilizing Volume Profile analysis, we aim to identify profit-taking levels near the upper boundary of the 70% volume area, where significant selling pressure may emerge. Trade Plan: Entry: Consider entering a long position once the price rebounds from the 33.75 support level, confirming its role as support. Alternatively, wait for a bullish candlestick pattern or a break above a key resistance level to confirm upward momentum. Stop-Loss: Place a stop-loss order below the 33.75 support level to protect against potential downside risks. Adjust the stop-loss level based on the volatility of the asset and your risk tolerance. Take-Profit Target: Utilize Volume Profile analysis to identify the upper boundary of the 70% volume area as a potential profit-taking level. This level may act as a significant resistance zone where selling pressure could increase, leading to a potential reversal or consolidation. Risk Management: Manage risk by sizing positions appropriately and adhering to proper risk-reward ratios. Monitor the trade closely and consider adjusting the stop-loss and take-profit levels as the trade progresses. Disclaimer: Trading carries inherent risks, and there is no guarantee of profits. Conduct thorough analysis and consider all factors before making trading decisions. Utilize stop-loss orders and risk management strategies to mitigate potential losses.
Long
by ispatialresources
2