PERP USDT: 8Hr timeframe, end of correction?
8hr timeframe had an amazing run-up of 500% + since the start of Jul... In rising wedge since the start of Aug.
Now pulled back almost exactly to the measured move of break down from this wedge, and that is also the big support level which was tested multiple times in the first half of Aug...
If that support is lost, we could see a massive selloff, but also if it holds and BTC doesn't crash over our heads, we have a good chance to see some nice upside movement...
We could expect a golden cross on MACD and already got one on SRSI, RSI looks ok, but on a shorter timeframe it's already high, and maybe one more retest of that support level is possible before attempting break of this next resistance level...
Now pulled back almost exactly to the measured move of break down from this wedge, and that is also the big support level which was tested multiple times in the first half of Aug...
If that support is lost, we could see a massive selloff, but also if it holds and BTC doesn't crash over our heads, we have a good chance to see some nice upside movement...
We could expect a golden cross on MACD and already got one on SRSI, RSI looks ok, but on a shorter timeframe it's already high, and maybe one more retest of that support level is possible before attempting break of this next resistance level...
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The boost would help also...
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The boost would help also...
Doors are now open to my free Telegram channel.
Welcome!!
t.me/CryptoBarbecueChannel