600% move for Shentu (CTK) in 2024?

Jun 6

On the above 12 day chart price action has corrected 90% since early 2021. A number of reasons now exist to consider a long position, they include:

1) Price action and RSI resistance breakouts.

2) Trend reversal. March price action printed the first higher high followed by the first higher low in February.

3) Support and resistance. Look left, the blue arrows. This is an important legacy support and resistance area. The previous 12 day candle informs you of the strong demand as price action tested this area.

4) The falling wedge. The breakout has confirmed. The highest and lowest touch points are used to forecast the target area, circa 4.20

Is it possible price action continue to correct? Sure.
Is it probable? No.

Ww

Type: trade
Risk: <= 6%
Timeframe for long: 10 days
Return: 400%

Jun 10

Trade active

Past resistance confirms support!

Jun 11

Note

Same support confirms again. Selling into support is happening across a number of alt-tokens at the moment. Try to avoid.

Jun 11

Note

Some folks asking about a target. 1st I loath targets. It is not a reliable way to make money, but I recognise that's how some folks roll.
There is a falling wedge pattern here with a measured move to the $4 area.
It would be my preference to wait for a sell signal print. Should the idea attract over 100 likes I'll add an alarm to the idea. Whether you pay attention to the signal is entirely another matter!

Jun 18

Trade active

Love it when sellers come together to provide delicious opportunities.
Past resistance confirms support!
The same support as in the June 10th update. This is called a "Double bottom"