Based on the my chart and TA, I would say there's been a huge volatility going on in short period of time. This can very frustrating to pick the right entrance. So I decided to show you guys the best way to get a good entrance into this cryptocurrency. The only way for you to succeed and have good entrance is patience, no doubt about it. Let's start talking about the entrance point.
Patterns:
Uptrend Channels: I use this to show where the trend is currently going
Descending triangles: This pattern is used to indicates there's a downtrend or bear market.
Consolidation: this is a duration of time show us where this price range is undetermined and can't make an entrance. Please do not trade in Consolidation areas.
Support Line and Pit: The support line that I have demonstrated in this chart will be determine as a good entrance point if a correction happens. I created the term "Pit", because I've have discovered every time I have done a uptrend channel in a 1 day time frame, there's always leak in the pattern. As of right now, I do not recommend retail investors getting an entrance as of right now until the price hits the support area. Keep in mind once it hits the support line, wait till the reversal happens. Then enjoy your bull ride.
Indicators
EMA: This indicator is faster then MA (Moving Average) which shows us if the trend is good or bad. This indicator can be used as a Support/Resistance .
VWAP: This was used to find the fair price of my entrance.
MACD: Tells us the Convergent, Divergent, and Volume of the Trend
RSI: The indicator shows us if the price are being overbought or oversold
I am not a Financial Advisor, please do your own due diligence before taking my opinion.
Patterns:
Uptrend Channels: I use this to show where the trend is currently going
Descending triangles: This pattern is used to indicates there's a downtrend or bear market.
Consolidation: this is a duration of time show us where this price range is undetermined and can't make an entrance. Please do not trade in Consolidation areas.
Support Line and Pit: The support line that I have demonstrated in this chart will be determine as a good entrance point if a correction happens. I created the term "Pit", because I've have discovered every time I have done a uptrend channel in a 1 day time frame, there's always leak in the pattern. As of right now, I do not recommend retail investors getting an entrance as of right now until the price hits the support area. Keep in mind once it hits the support line, wait till the reversal happens. Then enjoy your bull ride.
Indicators
EMA: This indicator is faster then MA (Moving Average) which shows us if the trend is good or bad. This indicator can be used as a Support/Resistance .
VWAP: This was used to find the fair price of my entrance.
MACD: Tells us the Convergent, Divergent, and Volume of the Trend
RSI: The indicator shows us if the price are being overbought or oversold
I am not a Financial Advisor, please do your own due diligence before taking my opinion.