POL / TetherUSלונג
Possible scenario for POL for next few months
Hello, looks like we are in a big challenge aren't we?
Not onlyPOLUSDT but also almost every cryptos are dropping hard due to news of the U.S. interest rate cut adjustments.
In last post, I mentioned two possible scenarios, rally or adjustment, and we are in adjustment unfortunately. However, don't jump into conclusion that cryptos are doomed and there will be only a apocalypse. It's too early to say that.
Today, I wanna share my point of view of future scenarios of POL. And I tell you my conclusion first: LONG📈. Here's the reasons.
=======================================
1) Now the price almost touched 60 days moving average line, and 4 Hours Chart RSI is also in oversell area. This can be as a possible support for a short period.
2) Also, the price is almost near of 0.618 level of Fib. retracement($0.45). In addtion, there were a lot of trading volume in the past, which means also there will be a support. I believe that price will not go down easily through this level.
3) If we consider past 30 days of rally as an eliot impulse wave, I think we are in ABC correction phase. And after that, we can think another rally again.
4) If we look into a chart with weekly period, I think this kind of view is also not quite impossible... but it's just my hope for now.
=======================================
Hope my vision will come true in the future. Don't be so disappointed, fellows! Our life and journey are "long", and so is our chart.
Not only
POLUSDT but also almost every cryptos are dropping hard due to news of the U.S. interest rate cut adjustments.In last post, I mentioned two possible scenarios, rally or adjustment, and we are in adjustment unfortunately. However, don't jump into conclusion that cryptos are doomed and there will be only a apocalypse. It's too early to say that.
Today, I wanna share my point of view of future scenarios of POL. And I tell you my conclusion first: LONG📈. Here's the reasons.
=======================================
1) Now the price almost touched 60 days moving average line, and 4 Hours Chart RSI is also in oversell area. This can be as a possible support for a short period.
2) Also, the price is almost near of 0.618 level of Fib. retracement($0.45). In addtion, there were a lot of trading volume in the past, which means also there will be a support. I believe that price will not go down easily through this level.
3) If we consider past 30 days of rally as an eliot impulse wave, I think we are in ABC correction phase. And after that, we can think another rally again.
4) If we look into a chart with weekly period, I think this kind of view is also not quite impossible... but it's just my hope for now.
=======================================
Hope my vision will come true in the future. Don't be so disappointed, fellows! Our life and journey are "long", and so is our chart.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.