INJ / TetherUSPanjang
#INJ/USDT - Long - Potential 99.78%
Direction: Long
Market: Spot
Risk: 0.25% - 1%
#USDT_INJ
Exchange: BINANCE
Timeframe: 3D
TP1: 14.323
Entry: 7.169
STOP: 4.904
DEFI is back! INJ's technicals are mirroring Bitcoins with this large bullish broadening wedge covering all of 2023.
With an interest rate pause on the horizon, inflation looking under control and the spot BTC ETF's opening up crypto to the mainstream investment market I think Injective is well placed to catch some trickle down volume when the total crypto market cap starts to expand.
A layer one blockchain built for finance, INJ has fully onchain financial markets (spot, futures and options) and is compatible with etherium as well as non EVM blockchains like Solana and IBC blockchains (cosmos) - basically its providing solutions that institutionally will be appealing.
Its the roadmap though thats driving my thinking here. Q3 see's the launch of Orbital Chains, Q4 gives us the Carcosa upgrade and Mesh Chain Networks while into 2024 we'll see the Volan Upgrade and Multi VM chains added.
The last few days price action have gone against my initial set up, I was intending to buy at the lower trendline around 7.169 however with the last few days movement I'm going to be accumulating from this point (incase we don't retrace) holding back 50% of my allocated capital for a buys at the trendline. I'm targeting 14.323 as my take profit, a historical support/resistance and am happy to be holding this position until mid 2024.
I've set a stop at 4.904, however if we break below the 200EMA I'm going to DCA the position and bring down my target accordingly (effectively the aim here is to double my money so I'll aim for 2x my average entry price).
Happy to hear any questions or thoughts in the comments.
Market: Spot
Risk: 0.25% - 1%
#USDT_INJ
Exchange: BINANCE
Timeframe: 3D
TP1: 14.323
Entry: 7.169
STOP: 4.904
DEFI is back! INJ's technicals are mirroring Bitcoins with this large bullish broadening wedge covering all of 2023.
With an interest rate pause on the horizon, inflation looking under control and the spot BTC ETF's opening up crypto to the mainstream investment market I think Injective is well placed to catch some trickle down volume when the total crypto market cap starts to expand.
A layer one blockchain built for finance, INJ has fully onchain financial markets (spot, futures and options) and is compatible with etherium as well as non EVM blockchains like Solana and IBC blockchains (cosmos) - basically its providing solutions that institutionally will be appealing.
Its the roadmap though thats driving my thinking here. Q3 see's the launch of Orbital Chains, Q4 gives us the Carcosa upgrade and Mesh Chain Networks while into 2024 we'll see the Volan Upgrade and Multi VM chains added.
The last few days price action have gone against my initial set up, I was intending to buy at the lower trendline around 7.169 however with the last few days movement I'm going to be accumulating from this point (incase we don't retrace) holding back 50% of my allocated capital for a buys at the trendline. I'm targeting 14.323 as my take profit, a historical support/resistance and am happy to be holding this position until mid 2024.
I've set a stop at 4.904, however if we break below the 200EMA I'm going to DCA the position and bring down my target accordingly (effectively the aim here is to double my money so I'll aim for 2x my average entry price).
Happy to hear any questions or thoughts in the comments.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.