without_worries

Filecoin / USD / BTC - Regaular bullish divergence

Long
BINANCE:FILUSDT   FIL / TetherUS
On the above daily chart a ‘incredible buy’ opportunity now exists following a 80% correction since April with oversold condition (orange column). Why bullish?

1) Price action breaks out of resistance to find support.

2) Regular bullish divergence . Lower lows in price action with RSI and MFI higher lows. There is actually 8 oscillators showing bullish divergence with price action at this time, but for the sake of keeping the chart clutter free they are not all shown here.

3) Stochastic RSI is crossing up 20. The green shaded area only occurs when high probability of uptrend exists - look left.

4) Price action against BTC on the daily chart (below) is also showing similar oversold conditions with ‘incredible buy’ opportunity. Excellent.

5) The 10-day chart (bottom) is currently testing support on past resistance.

Is it possible price action falls further? Sure.

Is it probable? Very unlikely. Excellent risk/reward ratio at this time.

Good luck!

WW

FIL / BTC daily chart:


10-day chart:

Trade active: Support confirmed, safe to go long now - 1st target $60
Trade active: Target reached, but not over. The weekly FIL / BTC chart is looking incredibly bullish.

Comment: $60 target reached.

Comment: 60% return thus far. On the daily chart below following the recent move up Stochastic RSI now crossing down suggesting (red shaded area - look left) price action either move sideways or taps a dip down to the 21-day EMA.


Trade active: 110% so far, no sell signals yet.

My time is spent studying so you don't have to. Is that of value to you? Then help me keep it of value to me;)

ZEC
t1fTpoXnPWWeR4hqeVBYjxdAmKEhTpGUSfG

ETH
0x2E02758C7058763755665B158580ac59FACA960b

Comments

Loving it!
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@OptimoomFX, Ta - easy profits to be made here.
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