Hello everyone!
#IMX, I dare to suggest that a head and shoulders technical analysis pattern is forming on the chart.
It can be observed that the price reacts well as it approaches the 0.786 Fibonacci level. In this area, the left shoulder was formed and now the right shoulder may be forming.
The neckline is at a strong Fibonacci level of 0.618. The price...
Immutable X (IMXUSD) has been rising non-stop since the January 23 Low and is now on a new 2 year High! However, the 1D RSI's Bearish Divergence, the entry on the Diagonal Resistance Zone since the June 2022 High, as well as the similarities with the previous Higher Highs formations, call for a short-term pull-back.
As long as that is contained above the 1D MA100...
IMX is deep into its bull trend along with the rest of the crypto market. We have fewer signs of a reversal on this chart compared to others, but many of the same themes are playing out.
How do we trade this? 🤔
We have three pushes to the upside in a bull channel, an RSI at 73.00, and an upcoming Resistance Zone that support the idea of a reversal. However,...
Immutable X (IMXUSD) is seeing a huge rally today, almost +50% so far, that has hit the 1D MA200 (orange trenf-line) and the top (Lower Highs) of the Channel Down. The previous 1D MA200 test (July 28) was a clear rejection and what started August's massive -46.80% decline. The last such decline (-46.95%) was in May/ June, the first sell wave within the dominant...
Immutable X (IMXUSD) is trading within a Channel Up pattern for exactly 1 year (since the July 30 2022 High). The price hit today the 1D MA200 (orange trend-line), breaking above the horizontal 0.236 Fibonacci retracement level while reaching the 0.236 Fibonacci Channel level. This is a sequence of Higher Highs, thus a technical uptrend.
The last time when all...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
The price retested the weekly resistance WR1 and got rejected from there which led to 30% decrease in price. Now price is likely to head for daily support 1 DS1 zone. There can be some upward movement before price starts declining to the DS1 level.
However, a very interesting bullish pattern is in making and will complete if the price hits DS1 zone and bounce...
Immutable X (IMXUSD) is on a strong rise, the 4th straight currently green 1D candle since the consolidation around the 1D MA200 (orange trend-line). The price has long ago broken above the Bear Cycle's Lower Highs trend-line, and has set course to fill the upper Fibonacci retracement levels.
The 0.236 is already hit, next is the 0.382 Fib (1.063) where we expect...
