On the above 1-day chart price action has corrected a whopping 80% since early November. Now is an excellent time to be bullish from a risk / reward perspective. Here’s why:
1) Support / resistance. Price action has corrected to strong support and resistance (orange lines).
2) Price action resistance breaks out just as before in early July.
3) A ‘great buy’ signal prints. Look left.
4) RSI resistance breaks out, forms a falling wedge pattern and breaks out again, fantastic!
5) Bullish divergence. Although not very clear to see, RSI prints a higher low versus the lower low in price action. Six oscillators are currently printing bullish divergence with price action following the buy signal (that's the important bit).
6) The story is very similar for the BADGER / BTC pair (below) on the daily expect a ‘incredible buy’ prints with price action finding support on the golden ratio. Excellent.
7) lastly on the 3-day chart (bottom), price action prints an excellent long tailed dragonfly DOJI candle indicating massive support on past resistance. As good as it gets.
Is it possible price action falls further? Sure.
Is it probable? No.
A buy from $10 is excellent.
Target: $107
Good luck!
WW
Daily BADGER / BTC chart
3-day chart
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Someone below asked how could I possibly know the target? Fibonacci folks, Fibonacci told me where the last two peaks would top out, and so they did. 10x return if you bought in from $10.70.
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Someone below asks the dreaded question, when can this target happen? What's the rush people?! Have you bus to catch?
Based on the last two events from trough to peak the target is set to be achieved before the end of February.
Ask me below for updates, I'm not trading this.
Trade active
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A good moment to add to long positions. Awesome amounts of divergence printing on the daily chart following the buy signal. Look left.