Bread (BRD) vs USD & BTC

The above 2-day chart is showing a price action breakout to the upside following a strong oversold condition. Stochastic RSI crosses above 20 at the same time a bullish engulfing candle is printed. Price action is below the major moving averages, a perfect buying location..

On the 1-day BTC chart we have a strong band to band transition from the bearish half to the bullish half of the Bollinger Band. Observing an asset with strong bullish conditions both on USD & BTC is a bullish indicator on its own.

Comment:

Studying this token more and more since finding the divergence - there's some very interesting technical observations.

The 4-day chart just printed a new candle yesterday, which is a bullish engulfing candle as the Stochastic RSI cross up 20. This happened before (circled in black). The probability of a strong move to the upside has increased.

There's a weekly bullish divergence now building for over 2+ years. This is impressive considering the bear market of the last two years. I've not seen another token listed on this exchange with this length of divergence.

Comment:

Not advice - Please always do your own research. The recent Bitcoin sell off has pushed price of this trade down to the golden ratio - a good moment to accumulate.

Comment:

Not loving how the weekly RSI closed (circled in black). Below 50 with apparent rejection from support becoming resistance suggesting bears might be in control until Mid-December.

How am I playing it? Still long - will use dips as opportunities.

Comment:

3-day is looking very nice indeed. What's changed?

1) RSI resistance recently became support on back test (circled in black). A very bullish signal.

2) The back test occurred at the same time price action pulled back to test support on the bottoming candle (see call-out).

3) Point (2) occurred following the bullish engulfing candle!

We're good to go.

The 3-day chart:

Comment:

Look left! I don't think the next 10-days will be boring in the crypto space. However it is that time I like to check through the 10-day charts.

Have a look at the price action on Bread, huge amount of buying pressure on the last 10-day candle printed with a long tail.

Seat belts on please ;)

Trade active:

New 10-day chart, looks fantastic. Previous RSI resistance was broken and back tested, now is support.

Trade active

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Remember that 10-day chart above?

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Up 175% so far and fast becoming overbought. No sell signal yet however a pullback to the 21-week moving average should be expected in the future. Price action is currently 50% above this moving average.

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Now 340% - Being patient pays.

Trade active:

Targets to watch out for:

55 cents then.. $1,05

Trade active:

October 2020 all over again. If you missed that 700% gain from before you've now got a second chance.

10 oscillators showing bullish divergence! Risk is firmly in the 'off' position.

Comment:

A near 200% move since update above. Green column is indicating 'overbought', but not yet a sell. Nonetheless, rate of return in the days ahead may be limited.

Comment:

2000% !!! Patient is the winner! ;)

I'd be taking profits...