Here is some extra details about the GO-LONG scenario I was talking about.
In my new indicator called S4W/RoBonacci, we can see the downtrend reversed back to an uptrend, starting on September 2019, and it is still climbing.
We are soon to reach the first key-level, as seen on the chart. This indicates the bulls are getting stronger and prepare their attack as a significant up-move
What I'm watching now is the MA lines. To see which line will be used as a support level for an up-bounce move.
Is it the EMA100 (the orange line) which has already been reached by candles but not yet been breached?
The level for this EMA100 is around 7100 USD. If the breaching occurs then the price will drop down to reach the EMA200 (the lowest purple) line). In that case, the price will plunge to 5600 USD. And that will be the real starting for the explosive up move.
But if price orbits around the EMA100 (orange), then the up-trend will start imminently
Also, I've drawn on charts what I consider to be 5 take profit levels to use. From the safest one at 10480 to another one at 14356, which is my most optimistic up-move to occur. But time will tell.
So here are the key prices :
-------- LEVELS ----------
7100 USD : support level linked to EMA100
5600 USD : support level linked to EMA200
------- TAKEPROFIT / RESISTANCE ------
10480 USD : first and safest take profit when going long
12325 USD : 2nd take profit, if you want more risk
13174 USD : The more realistic level to be reached for me.
14356 USD : This is the most risky level. But that level can be reached on a very impulsive (huge) candle move. (time will tell)
USDT supply seems to be quiet and sustained at the same level. So bears are not really in control anymore.
I still HODL, since price can still go down a bit before the bullish counter strike.
Don't take my words for granted, do your analysis, analyze again then trade at your own risks.
Don't hesitate to hit the LIKE BUTTON and SUBSCRIBE for more ideas to come. Thank you
In my new indicator called S4W/RoBonacci, we can see the downtrend reversed back to an uptrend, starting on September 2019, and it is still climbing.
We are soon to reach the first key-level, as seen on the chart. This indicates the bulls are getting stronger and prepare their attack as a significant up-move
What I'm watching now is the MA lines. To see which line will be used as a support level for an up-bounce move.
Is it the EMA100 (the orange line) which has already been reached by candles but not yet been breached?
The level for this EMA100 is around 7100 USD. If the breaching occurs then the price will drop down to reach the EMA200 (the lowest purple) line). In that case, the price will plunge to 5600 USD. And that will be the real starting for the explosive up move.
But if price orbits around the EMA100 (orange), then the up-trend will start imminently
Also, I've drawn on charts what I consider to be 5 take profit levels to use. From the safest one at 10480 to another one at 14356, which is my most optimistic up-move to occur. But time will tell.
So here are the key prices :
-------- LEVELS ----------
7100 USD : support level linked to EMA100
5600 USD : support level linked to EMA200
------- TAKEPROFIT / RESISTANCE ------
10480 USD : first and safest take profit when going long
12325 USD : 2nd take profit, if you want more risk
13174 USD : The more realistic level to be reached for me.
14356 USD : This is the most risky level. But that level can be reached on a very impulsive (huge) candle move. (time will tell)
USDT supply seems to be quiet and sustained at the same level. So bears are not really in control anymore.
I still HODL, since price can still go down a bit before the bullish counter strike.
Don't take my words for granted, do your analysis, analyze again then trade at your own risks.
Don't hesitate to hit the LIKE BUTTON and SUBSCRIBE for more ideas to come. Thank you
Comment:
A mistake in the chart text. Read "BULLS resurrection" instead of "BEARS resurrection". oops, sorry