Thought this was already published but unable to find.
On the above 1-day chart a regular bullish divergence follows the ‘incredible buy’ condition after a 90% correction in price action. The bullish divergence occurs across both RSI and MFI oscillators and is 2-month in the making, that is significant.
Is it possible price action falls further? For sure.
Is it probable? Very unlikely.
1st Target is 19k sats / 690% from current levels.
Good luck!
WW
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Bullish divergence remains intact with squeeze and constriction of the Bollinger Band mouth, which indicates a big move is coming.
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Price action recently breaks out of resistance. The bullish divergence remains intact - be patient.
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Double bullish engulfing candles on the 2-day chart.
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Breakout of pennant formation. Next target 8k sats
@Ayala2018, Let's have a look... yes, sure it can reach those levels again. That is entirely possible. Is it probable? Very unlikely. Why? Look left. The oscillators are printing higher lows as price action prints lower lows. This is bullish divergence, it occurs when bears become exhausted.
The was a 'incredible buy' signal, now we wait until there is a 'sell signal'. This is a strong long position at this time.
@Ayala2018, Look left where price action found past support, that is a good start for future resistance. The most tests of support the stronger the potential resistance.
For what it's worth I don't trade like this, i.e. trying to guess the market. Far better to wait until the market is overbought.