So, I recently posted that $SIGN price pattern is showing a retracement and channel formation. Well, you can look at the chart screenshot I uploaded for proof. The retracement is healthy, at about 50% down of the previous uptrend, and then sharply rejected any lower price after market indecision, with something close to a morning star pattern. So, what can we make of this? Will the $SIGN uptrend continue? Or is this just a fluke formation? Well, the current market structure effectively confirms that the @SignOfficial price channel is real on the daily chart: 2 days of indecision, 1 day of market rejecting the lower price while moving boldly to the upside, and another day of upside continuation (at least for now). In my opinion, the support zone for this recent channel is very strong. With the support even preceding the last significant uptrend on the daily chart: approximately 8 days of market confirming that support zone. From where the $SIGN price is right now, the only way is up. Fortunately, you can still get in right now and start accumulating some good profit! So, what are you still waiting for? #SignDigitalSovereignInfra
$LUNA is about to rise! The monthly, weekly, and daily charts are aligned, as price hits a previous support level. Price is currently consolidating, and could start going bullish if volume increases. Could this be the rejuvenation of this crypto asset? Time will tell. #LUNAโ
How to make easy money from newly launched tokens on Binance...
Don't rush in and buy once the new token launches!!!
I made that mistake and lost over 40% of my crypto capital ๐ฅบ๐ฅบ
Now, here's how you can profit from a newly launched token without taking much risk.
There's something called 'price bounce' and it's a very interesting concept.
A price bounce happens within an hour of the launch of a new token, just like a retracement.
In a price bounce, traders who bought high will lose money, but it also presents an opportunity for savvy traders to make some profit.
With a price bounce, you have to enter, make your profit, and exit as quickly as possible. Within that hour timeframe, else your trade becomes susceptible to the market forces.
The more you practice making money with a price bounce in a newly launched token, the more proficient you'll be at identifying it and making money with the opportunity.