ssari

BAL.USDT (Y20.P5.E1).Is it time to go long

Long
BINANCE:BALUSDT   BAL / TetherUS
Hi All,

While BTC does another ranging price action, the ALTs are coming into play.
BAL has a nice trend formation on the 8 hrly and now is at a strong resistance.
I have 2 scenarios where the resistance is broken decisively or its consolidated underneath this resistance layer.
Either way, looking at the MACRO structure, the following can be observed:

a) Wedge breakout confirmed ;
b) Daily and 2Day indicators look like turning bullish ;
c) The 8 hrly upward trend intact;
d) Macro found support at the 0.5 fib level;
e) Phoenix indicator in the bullish territory;

+ many more

DAILY CHART: Note the 10 and 20 EMA acting as support and the 50 currently resistance.
Bullish 3 candle setup on the daily.




All the best,
S.SAri
Comment: B.CHART
Comment: Still stalking for an entry. 10/20 ema level now. We need to see a bullish candle or bullish candle combination here for a good entry. They way it pulled back looks too strong, unlikely we will get a nice setup.
Order cancelled: I missed the opportunity. No trade.

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