ALICE - Possible Entry on Range break
Momentum is in a pull back with many of the Gaming and meta tokens, though I am willing to take an entry right here on ALICE as a possible retest of the recent range break. LTF minor declining resistance break out is currently being retested, very local action but may be the start of a large movement. Rising wedge trend acting as support, as is the range breakout levels. Scalping my way into this position and building it as I go.
Just bought in at 22.70
Will stop out below 22.50 on this entry
but ALICE will remain bullish for me above 20-21 range
Keeping risk low as I am trading against short term momentum
1H RSI looks nasty stuck under 50 but is at lower trend so may find a reversal here
Daily RSI was looking over bought but this pullback has given it a little headroom
Bearish tops on the recent 1H MACD which led to this pull back, but hidden bullish div on bottoms currently being printed
Could be setting up for a significant move if range break holds
Just bought in at 22.70
Will stop out below 22.50 on this entry
but ALICE will remain bullish for me above 20-21 range
Keeping risk low as I am trading against short term momentum
1H RSI looks nasty stuck under 50 but is at lower trend so may find a reversal here
Daily RSI was looking over bought but this pullback has given it a little headroom
Bearish tops on the recent 1H MACD which led to this pull back, but hidden bullish div on bottoms currently being printed
Could be setting up for a significant move if range break holds
Comment:
Strong BTC led Sell off happening across much of the market. Catching knives right now, will wait for signs of recovery