EGLDUSDT Volatility Expansion Starts!
Hello trader,
EGLD just broke out from its ATH at 30 USDT and rising. I want to test and see the "volatility expansion &price increase" correlation idea on this one.
As you can see I have my bollinger band width indicator and stoch rsi on at the bottom. BBW is currently sitting around 0.41 and previous peak was around 1.28. Volatility has at least 3x room to grow.
On top of that, stoch rsi is at fantastic neutral levels in the daily TF and rising, altough intra-day TF looks a bit overbought, i am not so sure about fixating on those since i am a trend follower. If you are using intraday TF in your trading, consider this overbought situation in your trading setups.
Potential resistance levels wise, i see around 35 USDT level is the first major resistance coming from fib-retracement of 1.618. So keep an eye on that one for some TP targets.
EGLD just broke out from its ATH at 30 USDT and rising. I want to test and see the "volatility expansion &price increase" correlation idea on this one.
As you can see I have my bollinger band width indicator and stoch rsi on at the bottom. BBW is currently sitting around 0.41 and previous peak was around 1.28. Volatility has at least 3x room to grow.
On top of that, stoch rsi is at fantastic neutral levels in the daily TF and rising, altough intra-day TF looks a bit overbought, i am not so sure about fixating on those since i am a trend follower. If you are using intraday TF in your trading, consider this overbought situation in your trading setups.
Potential resistance levels wise, i see around 35 USDT level is the first major resistance coming from fib-retracement of 1.618. So keep an eye on that one for some TP targets.
Comment:
hopefully doubled your initial investment...
recent bitcoin rally to 35k level caused a pause in altcoins, you know how it goes.
I expect EGLD price continue to grow once bitcoin starts to range.