GOATSEUS MAXIMUS NO. 1 MEME COIN ATM
Technical Analysis + trade plan by Blaž Fabjan
Rising Wedge Pattern
A Rising Wedge is identified on the chart, which is typically a bearish reversal pattern in technical analysis. This indicates that the price could experience a short-term decline once the wedge breaks downwards, which is consistent with the message on the chart indicating a potential short-term decline.
Support and Resistance Levels
Support Level: $0.18047 (Key support zone where price could potentially rebound or consolidate).
Resistance Levels:
$0.58642: This level is a key point to watch for short-term profit-taking if the price rises.
$0.99652: Long-term potential target for new All-Time High (ATH) based on the pattern after the short-term decline.
Volume Analysis
The Volume (GOAT) is showing 909.922K, suggesting strong interest and participation at the current price range.
Volume needs to increase significantly to confirm any breakout from the wedge, either upward or downward.
Divergence (VMC B Divergences)
The chart shows the VMC B Divergences, indicating potential early signs of price reversal. Negative divergence here could indicate that momentum is weakening and aligns with the expectation of a short-term drop.
RSI and Stochastic RSI
RSI (14 period): 56.43 – This shows that the price is in a neutral zone, not overbought or oversold.
Stochastic RSI (14, 1, 3): 94.16 – Indicates that the price is in the overbought zone, which could signal a pullback soon, especially as it is above 80.
Hull Moving Average Histogram (HMA Hist)
HMA Hist: It’s slightly negative (-0.00315), which can indicate early bearish momentum, supporting the idea of a short-term price decline.
Trading Plan
Scenario 1: Short-Term Decline and Rebound (Rising Wedge Breakdown)
Entry:
If the price breaks below the rising wedge, consider entering a short position around $0.50-$0.52, aiming for a decline towards the support level of $0.18047.
Confirmation of the breakdown would be further decline in RSI below 50 and volume spikes on red candles.
Profit Target:
First profit target is around $0.18047 (support level), which offers a significant risk-to-reward ratio.
Stop-Loss:
Place a stop-loss just above the resistance at $0.58642 to limit potential losses in case of a sudden upward breakout.
Indicators to Watch:
Watch for a change in the RSI back towards 30-40 during the pullback, which could indicate oversold conditions and a potential reversal.
Scenario 2: Upward Breakout After Decline (ATH Target)
Entry:
After the expected decline, if the price finds support near $0.18047 and starts forming a bullish reversal pattern (like a double bottom or hammer candle), look to enter a long position.
Profit Target:
First target is $0.58642, and the second is $0.99652 for a potential new all-time high (ATH).
Stop-Loss:
For the long position, place a stop-loss just below $0.18047 to protect against further downside risk.
Indicators to Watch:
Watch for RSI moving above 50 again and a bullish crossover in Stochastic RSI to confirm the bullish momentum shift.
Risk Management
Risk per Trade: Limit risk to 1-2% of total trading capital.
Position Sizing: Adjust position size based on stop-loss distance and desired risk tolerance.
Summary
Short-Term View: Price could decline after breaking down from the rising wedge, aiming for the support at $0.18047.
Long-Term View: After the expected short-term decline, a bullish reversal could target a new ATH at $0.99652, provided volume and momentum confirm the breakout.
Rising Wedge Pattern
A Rising Wedge is identified on the chart, which is typically a bearish reversal pattern in technical analysis. This indicates that the price could experience a short-term decline once the wedge breaks downwards, which is consistent with the message on the chart indicating a potential short-term decline.
Support and Resistance Levels
Support Level: $0.18047 (Key support zone where price could potentially rebound or consolidate).
Resistance Levels:
$0.58642: This level is a key point to watch for short-term profit-taking if the price rises.
$0.99652: Long-term potential target for new All-Time High (ATH) based on the pattern after the short-term decline.
Volume Analysis
The Volume (GOAT) is showing 909.922K, suggesting strong interest and participation at the current price range.
Volume needs to increase significantly to confirm any breakout from the wedge, either upward or downward.
Divergence (VMC B Divergences)
The chart shows the VMC B Divergences, indicating potential early signs of price reversal. Negative divergence here could indicate that momentum is weakening and aligns with the expectation of a short-term drop.
RSI and Stochastic RSI
RSI (14 period): 56.43 – This shows that the price is in a neutral zone, not overbought or oversold.
Stochastic RSI (14, 1, 3): 94.16 – Indicates that the price is in the overbought zone, which could signal a pullback soon, especially as it is above 80.
Hull Moving Average Histogram (HMA Hist)
HMA Hist: It’s slightly negative (-0.00315), which can indicate early bearish momentum, supporting the idea of a short-term price decline.
Trading Plan
Scenario 1: Short-Term Decline and Rebound (Rising Wedge Breakdown)
Entry:
If the price breaks below the rising wedge, consider entering a short position around $0.50-$0.52, aiming for a decline towards the support level of $0.18047.
Confirmation of the breakdown would be further decline in RSI below 50 and volume spikes on red candles.
Profit Target:
First profit target is around $0.18047 (support level), which offers a significant risk-to-reward ratio.
Stop-Loss:
Place a stop-loss just above the resistance at $0.58642 to limit potential losses in case of a sudden upward breakout.
Indicators to Watch:
Watch for a change in the RSI back towards 30-40 during the pullback, which could indicate oversold conditions and a potential reversal.
Scenario 2: Upward Breakout After Decline (ATH Target)
Entry:
After the expected decline, if the price finds support near $0.18047 and starts forming a bullish reversal pattern (like a double bottom or hammer candle), look to enter a long position.
Profit Target:
First target is $0.58642, and the second is $0.99652 for a potential new all-time high (ATH).
Stop-Loss:
For the long position, place a stop-loss just below $0.18047 to protect against further downside risk.
Indicators to Watch:
Watch for RSI moving above 50 again and a bullish crossover in Stochastic RSI to confirm the bullish momentum shift.
Risk Management
Risk per Trade: Limit risk to 1-2% of total trading capital.
Position Sizing: Adjust position size based on stop-loss distance and desired risk tolerance.
Summary
Short-Term View: Price could decline after breaking down from the rising wedge, aiming for the support at $0.18047.
Long-Term View: After the expected short-term decline, a bullish reversal could target a new ATH at $0.99652, provided volume and momentum confirm the breakout.
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