Balancer (BAL) - hidden bullish divergence
Updated
On the above daily chart price action has corrected over 80% since May of last year. Now is an excellent time to be long. Why?
1) The ‘incredible buy’ signal printed.
2) Trend reversal, higher highs / higher lows are printing in price action and RSI.
3) Hidden bullish divergence. This is defined by price action printing a higher high at the same time an oscillator prints a lower low, namely stochastic RSI.
4) Lastly on the weekly BTC pair price action breaks through the 21-week EMA support (below).
Is it possible price action falls further? Sure.
Is it probable? No.
Target? $100, at first. This is derived from the falling wedge breakout as shown on the 10-day chart below. The flagpole of the wedge measures the target.
Good luck!
Ww
Weekly BTC pair
10-chart
1) The ‘incredible buy’ signal printed.
2) Trend reversal, higher highs / higher lows are printing in price action and RSI.
3) Hidden bullish divergence. This is defined by price action printing a higher high at the same time an oscillator prints a lower low, namely stochastic RSI.
4) Lastly on the weekly BTC pair price action breaks through the 21-week EMA support (below).
Is it possible price action falls further? Sure.
Is it probable? No.
Target? $100, at first. This is derived from the falling wedge breakout as shown on the 10-day chart below. The flagpole of the wedge measures the target.
Good luck!
Ww
Weekly BTC pair
10-chart
Trade active
Excellent moment as price action tests the golden ratio. First test point $27.Comment
On the daily chart price action is absolutely being squeezed into the corner of current wedge pattern. If a breakout is confirmed it should result in a 70% upside move.The story is similar on the BTC pair,
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
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.