MKRUSDT.PS trade ideas
MKR target 180012h time frame
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MKR is on the way to build 5 waves, already completed 3 waves from 500~1590. The most important thing here is where is the end of 4th wave(correction wave). According to structural support and 0.382 Fibonacci Retracement, 1350 is the potential end of 4th wave, also will be the start of 5th wave(final pumping wave), which target is 1800~2000. Therefore, we can set up a trading plan here.
TP: 1800~2000 / 2248
SL: 1220
$MKR Short PositionWe have MSS and the market has responded well.
We have BOS and the market is currently at FVG + C.E
We have D.O.L in form of SSL
MKR Trading PlanHorizontal supp/resistance in yellow lines
1x ascending support line
1x descending resistance line
1 long scenario if descending wedge plays out for a double top
1 short scenario if breakdown from ascending support line
MKR/USDT 1DChart ReviewI invite you to review the chart of MKR paired with USDT. First, we will use the yellow line to mark the downward trend from which MKR came out on top, while locally, we can use the blue lines to mark the upward trend channel in which the price is moving.
When we unfold the Fib Retracement grid, we will notice that the price has approached the support level of $1,340, which is currently keeping the price from falling further, but when it breaks, we have another support level of $1,179, and further we can mark a strong support zone from $1,050 to $920.
Looking the other way, we see that the price has been rejected from the important resistance zone from $1,503 to $1,741, which it has no strength to break yet. However, if we manage to break out of this zone, we will move towards the resistance level of $2,081 and then towards the resistance level of $2,508.
At this point, it is worth marking the moving average EMA Cross 200, from which the price has gone up and, despite the current recovery, it remains above the blue line, remaining in a strong upward trend.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, on the STOCH indicator we are at the lower limit, which has resulted in the current decline slowing down, while on the RSI indicator we are returning to the middle of the range, despite the price dropping lower, we are getting closer. to the point where we previously started to grow again, which is worth keeping in mind.
Potential return to 992 and 698 for bottom liquidity. Clear reversal pattern. Money Flow Index goes down. Volume profile shows no buyers
Entry: 1450-1370
Stop loss: 1599 (potentially can be also 1500 with manual closure)
Target profit: 1245, 992, 698
RR: 1.3-3.5
Duration: up to 100 days
MKRUSDTOur uptrend line is reserved for the time being.
In the daily time frame, the crab pattern has appeared for us, which overlaps with the negative divergence of the RSI in the same time frame.
This pattern is a reversal of the trend.
If the upward trend line is broken and the range of $1,383 is consumed, the possibility of a corrective trend will be strengthened up to the price range of $993.
Brief Analysis——MKRMaker is a peer-to-contract lending platform that enables over-collateralized loans by locking Ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. As MakerDao's token, the unit price of MKR has always remained at a high level. You can know from on-chain detectives that MKR is favored by whales as a trading token. MKR has risen since June, unlike other tokens that have risen rapidly and then fallen rapidly. The rise of MKR is stable.
MakerDao raised the Dai deposit rate starting in July, with the maximum interest rate being 8%. As a low-risk rate, whales and large entities are excited to exchange their tokens for DAI to receive this rate. This may be the main reason for the current rise. Although the deposit rate is currently reduced to 5%, but because of the low-volatility secondary market, a lot of DAI continues to be stored in vaults. On the other hand, MakerDao focuses on Real World Assets in the second half of 2023, which uses traditional short-term U.S. debt as the underlying asset. Affected by the Federal Reserve's hawkish interest rate hikes, U.S. bond yields have generally risen, with short-term interest rates above 5%. This is a good direction for the cryptocurrency market.
Back to our technical analysis, we took a screenshot of the candles chart from June. The purple rectangles in the WTA indicator area shows the position where the whale increased significantly three times, and the black rectangles in the candle chart area shows the change of the candle when the whale disappears. In Phase 1, whales flowed into the transaction, and MKR rose as expected. But after the whale disappeared, there were no destructive candles, such as long upper pin-bar and long red candles. This is important for WTA indicator usage. The V-reversal did not occur, and MKR began a smooth callback. This means that most whales do not choose to leave the market directly, and the remaining funds are enough to keep the rise without being destroyed. Similarly, in the Phase 2 and 3, although the positions are different, there are no destructive candles after the blue column disappears, and the bullish trend continues.
There is still no long red candle or long upper pin-bar. So the rise may not be over.
My MKR-USDTP trading plan practising My MKR-USDTP trading plan for next 24 hours. now preforming retest...looking for price action to sweep LL and take out early longs from yesterdays range low
MKRUSDTIs MKRUSDT exhausting at highs?
As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern at resistance level and bearish divergence suggesting the sell pressure is about to start.
If the bears took control , the 1st target could be 1400 followed by 1220.
What you guys think of it?
MKR shortMKR broke trough the support level. Asset broke trough the ascending trendline. Bearish movement to support level at 1334 is possible.
MKR WEEKLY ANALYSIS💥💥#MKR Analysis : Perfect Scenario
🚀🚀
🔮#MKR is following a rounding bottom pattern for a long time and the price reached near neckline. We can see a good breakout in #MKR💸💸
👀Current Price: $1510
🚀 Target Price: $2650
⚡️What to do ?
👀Keep an eye on #MKR price action and volume. We can trade according to the chart and make some profits. Stay tuned for further analysis and stay updated with market sentiments and news.⚡️⚡️
🏷Remember, the crypto market is dynamic in nature and changes rapidly, so always use stop loss and take proper knowledge before investments.
#MKR #Cryptocurrency #Breakout #TechnicalAnalysis #DYOR
MKR analysis in the short term❇️ mkr analysis in the short term (4H timeframe)
💹This coin is placed in a new channel, which according to the routine, we will take a long position at the bottom of the channel and a short position at the top of the channel (with the priority of orderblocks).
📊The type of channeling is unconventional and is drawn in live market, and it is different from the conventional channeling of price action and other styles and has a higher benefit than them.
❎according to the type of position at the top and bottom of the stop channel.
🔰If the stop is taken, if the price enters the channel again, the position should be taken again.
📈Be prosperous. 💵💷💴
MKR/USDT Downward Momentum ?? Maker Today AnalysisHello Paradisers, turn your attention to this token!
💎 MKR has been unable to establish newer highs on the daily timeframe and faced rejection in the supply zone.
💎Currently, MKR has decisively broken past its previous higher low, establishing a lower low - a bearish indication.
💎It seems MKR might be gearing up to form a new lower high before potentially continuing its descent. The optimal buying point would be within the Bullish Order Block or the Demand zone.
💎It's anticipated that within the demand area, the price could experience a strong bounce back, resuming its upward trajectory.
MKR short ideathis coin has completed 5 wave in daily chart with divergence between wave 3 and 5 , also there is another divergence in weekly chart . moreover , it is on the top of its descending channel . so I expect a correction in the coming days.
MKRUSDT bullishMKRUSDT has a OB on top at level of 2200 according to Elliot wave the 3rd wave has started and it will reach to 1.618 fib level.
MKR/USDT Breaks Through! Potential Upward Journey Ahead!🚀💎 YelloParadisers! Let’s delve into MKRUSDT! We’ve observed it shattering the resistance level, setting the stage for a potential ascent.
💎 A few days ago, it broke through the falling wedge channel upwards, and we noticed it accurately reaching our projected targets. Now, the former resistance has morphed into support, and it’s highly probable that the price will embark on a bullish continuation from this point.
💎 Another crucial factor to weigh is the market dynamics. If it fails to continue its bullish trajectory and breaks below the support level, a downward movement is anticipated.
💎 Remember, if you’re strategizing a trade, employ a proper stop loss and trade with wisdom and caution! Keep your strategies sharp and your insights sharper!
🚨Update #MKR/USDT:Every time the market forms something like this we break upwards. Of course, this is not a call, but when I’m searching for good trading opportunities this setup is 10/10 for me.
MKR/USDT bullish Flag breakout? 👀 🚀 Maker Today Analysis💎 Paradisers, brace yourselves for a promising opportunity with #MKRUSDT! We're observing a bullish flag formation and a mitigation of the supply zone, signaling a potential upward move👀
💎 Currently, #Maker is trading in a demand zone and has touched the $1305 level, forming a bullish flag pattern. This suggests that bullish momentum is being restored. If a breakout from this flag occurs, expect a significant upward surge.
💎 On the flip side, if the flag breakout doesn't materialize, look for bullish continuation starting from the flag's lower leg, which acts as support. Should the price break below this level, consider a short entry opportunity with a potential drop of up to -6.19%.
💎 Regardless of your trading strategy, always set a stop loss at 1.75% of your margin to trade like a pro.
Keep your charts updated and Stay one step ahead of the market 🌴
MKR Double Bottom UpdateYesterday, I made a trade with BINANCE:MKRUSDT because of the pattern and long confirmation and for this trade, two take profit areas are set ( Refer to the fib lines ) along with protective stop loss for each take profit hit areas for net profit security. I didn't have an image of my win rate on Binance, but I will provide you the next time :)
I ended the trade because of what my indicators presented, the RSI is on the oversold territory and the MACD line nearly approaching to the signal line in 1-hour timeframe. Meaning, we can see a retracement (possibly another double bottom pattern) of the price movement. If I want to trade this coin, I will wait until it forms a pattern potentially scalp short because of upward trend not until we see a breakdown in the support line particularly in the tp 1 area ( Refer to the the chart )
Overall, confluences of my trade include confirmations, resistance breakout, buy volume, and MACD. Always plan your trades by putting take profit and stop loss in every positions. Happy trading!!!
MKRUSDT short ideaHello traders. Wishing you success and profit. This is my idea in 4 hours. Also, I observed divergence in 15 and 1 hour times.
