BQX(ETHOS) is currently a blatant moon shot.
*Purple and blue are weekly levels. Yellow is daily.
The pump in January was a quick ploy for large hands to grab a large portion of the circulating supply while fully wicking through 4 weekly levels. Surprisingly, the distribution was initally weak after the pump with the weekly closing above 2 previously untested weekly levels. After distribution commenced the coin has been under massive accumulation for the past 2.5 months. It is very evident that whales have been microbuying. And with BTCs recent move prompting a small move on BQX, whales were happy to perform a massive shakeout. Whats key to note is the two uptrends currently being respected. Moreover, these two trends are occuring while BQX has not closed once over the pivotal 4324 weekly level.
It is very evident the daily and weekly level at ~3699 are very well respected and will not break*.
Due to the previously unrespected weeklys, very evident level of accumulation, and most recent shakeout: I believe ETHOS is preparing for a huge move. This move should be gradual and will be in full gear after the daily closes above 4324.
I anticipate the first distribution target for the whales to be 6700. Once a weekly closes above that level I think it is very possible the coin will continue much farther upward hitting a final target and huge resistance at 16500k sats.
Entering at this level ~4000k is a steal and you can thank BTCs pump for that ;)
This move will happen when BTC shows less volatility, as currently the market sentiment is insanity as more and more shorts are opening which is very puzzling and a move up for BTC could send us to 6k (gotta love liquidation).
Will update as the trade pans out as there should be many opportunities to short and reenter.
----------------------------------------------------------------------
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This group has been founded on c0tt0nC4ndyTA's FREE crypto trading course and we talk crypto 24/7 on Discord. A link to the course on youtube and discord group can be found below. The course downright amazing and completely free.
youtube:
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--------------------------------------------------------------------------
Happy trading!
*Purple and blue are weekly levels. Yellow is daily.
The pump in January was a quick ploy for large hands to grab a large portion of the circulating supply while fully wicking through 4 weekly levels. Surprisingly, the distribution was initally weak after the pump with the weekly closing above 2 previously untested weekly levels. After distribution commenced the coin has been under massive accumulation for the past 2.5 months. It is very evident that whales have been microbuying. And with BTCs recent move prompting a small move on BQX, whales were happy to perform a massive shakeout. Whats key to note is the two uptrends currently being respected. Moreover, these two trends are occuring while BQX has not closed once over the pivotal 4324 weekly level.
It is very evident the daily and weekly level at ~3699 are very well respected and will not break*.
Due to the previously unrespected weeklys, very evident level of accumulation, and most recent shakeout: I believe ETHOS is preparing for a huge move. This move should be gradual and will be in full gear after the daily closes above 4324.
I anticipate the first distribution target for the whales to be 6700. Once a weekly closes above that level I think it is very possible the coin will continue much farther upward hitting a final target and huge resistance at 16500k sats.
Entering at this level ~4000k is a steal and you can thank BTCs pump for that ;)
This move will happen when BTC shows less volatility, as currently the market sentiment is insanity as more and more shorts are opening which is very puzzling and a move up for BTC could send us to 6k (gotta love liquidation).
Will update as the trade pans out as there should be many opportunities to short and reenter.
----------------------------------------------------------------------
Want to learn how to be a smarter trader?
I invite you to join the Altcoin Trading Academy.
This group has been founded on c0tt0nC4ndyTA's FREE crypto trading course and we talk crypto 24/7 on Discord. A link to the course on youtube and discord group can be found below. The course downright amazing and completely free.
youtube:
www.youtube.com/c0tt0nc4ndyTA
Discord :
discord.gg/ZcMxErM
--------------------------------------------------------------------------
Happy trading!
Comment:
6BTC fake wall at 3600~ is up now.... In my experience this is a sign of further bleeding. stay strong hodl gang, I look to pick up more if we hold 3537
Comment:
sad times for BQX
this downtrend seems impossible to close out of. weekly got smashed and a daily close below will probably mean pending death.
2.5 months of accumulation above 3700~ foiled by the harsh whip of grandaddy btc, stay strong BQX we will see you again*
2.5 months of accumulation above 3700~ foiled by the harsh whip of grandaddy btc, stay strong BQX we will see you again*
Looks like we are headed for the weekly, I have been monitoring the order books and it looks like whales have been happy to throw fake buy vol to seemingly push out weak hands. It could also be slight distribution as BTC looks scarily strong, with hands looking for anothe blast to 5700~
another BTC leg could send BQX far below 3537. Whales are relentless and have no issue throwing the price down and shaking everyone out.
What I can say is I still remain bullish above 3537, moreover there is no resistance and the price can easily be bankrolled back up to 4200 in 5 minutes