ALPINE managed to break up from falling wedge. Technical target for that move is test of S/R range above fibb 0.618 where we got rejected strongly 2x in the past. We are in overbought range and sitting at 1st S/R range at fibb 0.382, so it's possible we get some consolidation here to cooldown indicators. Eventually I expect push for higher S/R and then ideally quick dip back to flip fibb 0.382 into support. Do that and we have built base for further move up toward ATH test and later new ATH. Note if whole crypto market goes banana crazy then we get straight pump up without bigger correction (example GHX) - in any case DCA profits out on the way up....
Trade closed: target reached
Crazy spike up and even crazier dump down. Hope you secured profits on the way up. Rejection was too strong so higher targets are off the table now. Max what I see is possible test of S/R at 5$ and then further correction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.