Best Setup in Crypto
Injective has been building out a 6 month symmetrical triangle base (long-term cup w/ handle). Volume has declined significantly with price tightening up just above the weekly 20 EMA + 30 SMA.
As we're heading into a seasonally strong period (Oct-Nov is historically the best performing period for crypto) and the pattern appears to be nearing an end, this could be ready to rip over the next 6-8 weeks just as sentiment hits extreme fear.
Catalyst: The SEC on Oct 13 decided to not appeal the court case won by Grayscale, increasing the likelihood of a Bitcoin ETF being approved over the next few months. The market could front-run this ETF approval.
As we're heading into a seasonally strong period (Oct-Nov is historically the best performing period for crypto) and the pattern appears to be nearing an end, this could be ready to rip over the next 6-8 weeks just as sentiment hits extreme fear.
Catalyst: The SEC on Oct 13 decided to not appeal the court case won by Grayscale, increasing the likelihood of a Bitcoin ETF being approved over the next few months. The market could front-run this ETF approval.
Nota
Got the breakout on big volume. We're just getting started here, but at some point maybe in the $15-20 range, I'm expecting a 25-30% shakeout before heading higher into late Nov / early Dec. My guess is $50 by December and then a 50-70% correction
Nota
The correction has begun. Think it comes under $13 briefly and then run it to ATHsNota
C'mon now 🎯
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.