On the above 1-day chart price action has corrected 40% since early July. A number of reasons now exist to be bullish, they include:
1) Price action resistance sees breakout after 63 days (pink line).
2) A ‘incredible buy’ signal was recently printed.
3) Price action made an impulsive move to the upper side of the Bollinger Band (not shown here).
4) Multiple oscillators are diverging with price action (purple circles).
5) The weekly chart (below) is printing an ascending triangle. It has yet to breakout, however I would have no issues going long based on the daily chart alone.
Is it possible price action falls? Sure.
Is it probable? Very unlikely.
1st target is 14k sats
2nd target? That happens after the weekly chart breakout. I’ve no idea.
Good luck!
WW
Weekly chart
1) Price action resistance sees breakout after 63 days (pink line).
2) A ‘incredible buy’ signal was recently printed.
3) Price action made an impulsive move to the upper side of the Bollinger Band (not shown here).
4) Multiple oscillators are diverging with price action (purple circles).
5) The weekly chart (below) is printing an ascending triangle. It has yet to breakout, however I would have no issues going long based on the daily chart alone.
Is it possible price action falls? Sure.
Is it probable? Very unlikely.
1st target is 14k sats
2nd target? That happens after the weekly chart breakout. I’ve no idea.
Good luck!
WW
Weekly chart
액티브 트레이드
On the 2-day chart below RSI resistance is broken with back test complete.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.