REEFUSDT trade ideas
reef looking for a breakout herebouncing off support are we going for a breakout or weilkl we fall through support
Idea for REEF/USDT, coinflip with higher chances of upside.LONGThis asset had great accumulation for at least 35 days, just trading on those psychological ranges that are slowly tightening down on that price lvl.
This is a trade that has good potential 4 a breakout and be a good trade, but it's also risky.
Both price and the indicators are showing us convergence, wich means that price has potential to follow it's trend to the upside. The asset have been doing consistent higher lows.
MACD is also showing us a loss in negative momentum (u can check that out) making the convergence argument even greter.
All of these are showing both on the daily and the 4h with the smaller latest pump and dump since march 25th.
Whether it will be the longers or shorters to win it will be up to a bit of luck.
I left also the ranges where u can take profit (or ur potential losses), now hoping that lady luck is with the longers I wish u all a good trade (let me know what u think).
Attention!! Remember to never invest more than u can afford to lose.
REEFUSDT (REEF) - BULLISH SETUP ANALYSIS 🔎
- REEFUSDT is printing an ascending triangle pattern.
- An ascending triangle pattern is a bullish build up pattern.
- Price is retesting the ascending triangle's inclined support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- There's a potential formation of the inverse head and shoulders pattern.
- The inverse head and shoulders pattern is a bullish reversal pattern.
- The right shoulder downtrend is bounded in the falling wedge pattern.
- A falling wedge pattern is a reversal pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Inverse head and shoulders neckline resistance.
- Ascending triangle's horizontal resistance.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
REEF FLY TO SUN .. BUY 1HREEF FLY TO SUN .. BUY 1H
REEF FLY TO SUN .. BUY 1H
REEF FLY TO SUN .. BUY 1H
REEF FLY TO SUN .. BUY 1H
REEF FLY TO SUN .. BUY 1H
REEFUSDT Daily chart , big bull moves in coming days!After it breaks the trend line and the resistance can be a good position to enter long
Reef is a DeFi platform built on Polkadot that aims to deliver cross-chain trading. A yield engine and a smart liquidity aggregator are among the project’s offerings.
The top 148 cryptocurrency on coinmarketcap.com
REEF will move soon!Here's a quick look at REEF 4 hr chart. As we can see, the price couldn't break through the resistance zone and came back down to 0.037$ where we saw a bounce. Now the price needs break above the blue triangle before we can build some momentum again. The crucial level to break above is 0.04$.
Note: Look for some volume to come in when the price breaks out from the triangle as confirmation.
The idea is: Buy the breakout from the triangle or at from the level shown in the chart and sell at the target areas shown in the chart.
Targets:
1. 0.049$
2. 0.053$
Profits can be taken in the resistance zone as well
Follow me for daily profitable trading setups
BTC dictates the market. If BTC goes down, then the alts will take a hit. Trade safe!
REEFUSDT Long PositionI've long on Daily fibonacci support, not using high leverage as my targets are high.
REEF UPDATEDrew fibs from the impulse, Pretty much DEFI will be inputted soon. Get ready for it to make new ATH. Very low cap market
[Watch it] REEF close to short term support areaWith a supportive Bitcoin REEF may look for a short term bounce in order to test resistance once again.
Watch support, look for hints of a breakout in case of a further test of resistance.
