Alchemix (ALCX) - Bullish divergence

On the above 1-day chart price action has corrected 95% following the break of market structure late last year. Multiple reasons now exist to be bullish. Very bullish. Why?

1) The ‘incredible buy’ signal.

2) The 2nd ‘incredible buy’ signal. Double ‘buy’ signals don’t often print, but when they do… Only three tokens in all of Binance/Coinbase are currently printing this way.

2) Regular bullish divergence. Multiple oscillators are printing positive divergence with price action.

3) RSI resistance breakout.

4) Price action prints a higher low on the golden ratio following a breakout from the falling wedge.

5) Volume. Lots of it. Not just this exchange. I’ve no idea why. Someone knows something I don’t. Volume divergence like this is not to be ignored.

6) The 10-day BTC pair prints ‘IB’ as Stochastic RSI crosses up 20 (below).

Is it possible for price action to fall further? Sure.

Is it probable? No and no.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: 2 to 6 months
Return: I’ve no idea

10-day BTC pair

As an example here was the VET/BTC pair on the 10-day as a IB signal printed.

Trade active:

ALCX/BTC pair prints Dragonfly DOJI candle on the golden ratio. Perfect.

Trade active:

resistance broken.

Comment:

Forgot to add the chart yesterday. Resistance breakout. Hold now until $1700 where price action topped out in May 2021.

Comment:

This might be a good moment. This one is on ‘what if’ list, or it should be…

4hr chart prints IB signal

2-day BTC pair corrects to golden ratio following life cross

Trade active:

Do you see?

By the by, 10 bullish diverging oscillators is the higher number I've seen on any alt token over the last month except for CLV most recently.

Comment:

Close 'shorts / swing trades' if you've got them open.

Trade active:

Do you remember the tutorial on one of my favourite candle stick patterns? All about the psychology..

If you don’t:

And now ALCX on the 3-day

Trade active:

Sellers exhausted, buyers say thank you.