Hello friends, today I bring you a small analysis of two cryptocurrencies, in this case it is CARR and TEL against the USDT pair, both currencies are in the Kucoin Exchange, first of all I remind you that this post is not an investment advice, I am not a financial advisor, therefore if you invest YOUR money it is YOUR responsibility, without further ado, let's get started.
1-CARR/USDT 4H:
In this coin I see a possible descending wedge, the volume does not accompany the idea much, more however, a little further back the same pattern was shown twice, both times it was practically a bounce to the EMA200 to continue its fall.
To break the wedge to the upside, and to enter said trade, I have two possible Targets, the first is a bounce to the EMA200 to continue falling, and the other is the Target of the wedge, which coincides as a resistance zone In the past, if I took the trade, I think I would go for the first Target, or move my SL in such a way as to ensure profits.
With the SQZMOM there is still no confirmed entry, more however a small bullish divergence can be noticed at the bottom. I will closely follow this coin and after taking the trade I will make a post giving the details of it.
2-TEL/USDT 4H:
Almost the same thing happens with TEL, a possible descending wedge, volume seems to accompany the idea, it seems to look better than the other coin I'm looking at.
To break the wedge to the upside, and to enter this trade, I have two possible Targets marked, the T1 is the most conservative, with a 14% profit approximately, I like how the price is moving in this currency.
With the SQZMOM there is still no confirmed entry in 4H, but in 1H there is already a possible entry, I think I will go for this Trade compared to the other one. Depending on whether or not I take the trade, I will be making another post with the details and progress of it.
I must also take into account the movement of BTC, because if it falls, it is most likely that it will drag everything with it, I will be evaluating the situation to make the best decision.
Note: Images obtained directly from TradingView
Well friends, that's all for now, I will be making another post with the advances or closings of the trades that I will be doing, if you liked the post, give it a like and follow me, if you have any constructive criticism let me know in the comments. Until next time.