REEF BULLISH WEDGE (Short-Term)
I don't have an attachment to any asset or project. If a coin presents a good trading opportunity for me, I will trade it. Long or short. It doesn't matter to me. If you are a trader, this is the mentality to have. I don't love REEF, nor do I hate it. I've done MINIMAL research on REEF, I am aware of a few fundamentals that count for 1% of my decision on trading REEF; though, I do think REEF has great potential. With that said, take this idea with a grain of salt.
Before doing so, have a look, my previous ideas (attached links), it could give you an idea about my previous TA ;)
REEF/USDT is currently in an Ascending Broadening Wedge formation. A typical broadening wedge of this nature "should have at least three distinct touches (or near touches) of the trend lines on each side. This helps assure proper identification and performance of the formation."
It typically breaks out to the DOWNSIDE. Do take note of my expected Fib target. Since we are in a Bull run, a few percentages higher are possible, perhaps a TOTAL of 217% profit [That's more than 2x. Don't get greedy]. I project a reversal from those regions to take us to the initial launch price.
My verdict#: Bullish short term - Bearish Mid term - Bullish long term.
Please comment or like if you agree with this idea.
Confidence Level 8.5/10
Good luck!
Before doing so, have a look, my previous ideas (attached links), it could give you an idea about my previous TA ;)
REEF/USDT is currently in an Ascending Broadening Wedge formation. A typical broadening wedge of this nature "should have at least three distinct touches (or near touches) of the trend lines on each side. This helps assure proper identification and performance of the formation."
It typically breaks out to the DOWNSIDE. Do take note of my expected Fib target. Since we are in a Bull run, a few percentages higher are possible, perhaps a TOTAL of 217% profit [That's more than 2x. Don't get greedy]. I project a reversal from those regions to take us to the initial launch price.
My verdict#: Bullish short term - Bearish Mid term - Bullish long term.
Please comment or like if you agree with this idea.
Confidence Level 8.5/10
Good luck!
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