On the above 2-day chart price action has corrected almost 80%. A number of reasons now exist to be bullish, including:
1) Strong buy signal (not shown).
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence. 8 oscillators currently print positive divergence with price action. A clearer overview may be seen on the 8-day chart below.
4) Lastly price action is currently on the golden ratio following the breakout. Typically a good long entry.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: no idea
Return: no idea
8-day divergence
1) Strong buy signal (not shown).
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence. 8 oscillators currently print positive divergence with price action. A clearer overview may be seen on the 8-day chart below.
4) Lastly price action is currently on the golden ratio following the breakout. Typically a good long entry.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: no idea
Return: no idea
8-day divergence
Trade active:
**GRM support confirmed**
Comment:
Price action up 70% since confirmation of GRM ;)
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR