cryptodisco

ETP Remains Bullish

Long
BITFINEX:ETPUSD   ETP / Dollar
Hello Traders,

Ive been looking at ETPUSD for a while now and this coin just seems to be doing its own thing. As you can see here...


its broken away from BTC and is on a bull run.

Looking at the 4hr we have regular bullish divergence , hidden bullish divergence and we see a bounce from support trend lines . Im going long on this divergence and have put some fib targets up.

Here is a closer look at that bullish divergence .


Divergence on the daily is also looking good. The bearish divergence has finished and the hidden bullish divergence has taken over.


Trade using your own risk management.
Comment: This has gone mostly sideways since I posted this 2 days ago. Looking at the chart though we see the price did wick down to make a 3rd low and there is more bullish divergence on the 4hr RSI. Waiting patiently for a pump.
Comment: This is taking the piss now. Bull div still here.
Comment: This has formed a more obvious descending wedge now. Ive had to move my trendlines around a bit but they are still catching bottoms/wicks of candles. Bull div still here. I know i said its broken away from BTC so it shouldn't matter but BTC is right at the apex now. Something big is about to happen.
Comment: Ok this looks promising. The descending wedge lasted longer than expected and my trend lines were violated but we appear to have broken out from the wedge and its printing impulse waves.

Comments

cryptodisco RoadTo23Million
@RoadTo23Million, I know right. I went long at around 3.32 like I said at the start of the post, it dipped a bit inside the wedge. Breaking that wedge took it up to around 3.46. Luckily I had a stop in place. The brutality of this drop really does highlight how important stops are.
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