Nothing too complicated here - A regular bullish divergence following the oversold condition (orange column) on the above 1-day chart now presents a ‘great buy’ opportunity.
Additionally on the monthly chart (below) there is a very impressive Dragonfly DOJI. Given the market capital size, the potential is extraordinary.
NFT's seems to be attracting a lot of money - I'm not sure I understand the craze, but there it is.
1st target $4
Good luck!
Trade active
⋅
How to spot a fake Gravestone DOJI. On the weekly chart below you see a bearish candle indicating a downtrend in price action. Sellers have stepped in pushing price down to this level. However if you look at the Stochastic RSI (circled in orange) you will see a cross up of 20 with the close of last week. This tells me bears are exhausted.
Trade active
⋅
All things considered this little one has held its dollar value quite well.
Two things:
1) The 10-day EMA has crossed up the 21-day. Downtrend is over.
2) Price action made an impulsive move to the upper side of the Bollinger band.
The combination of these two events is why the green shaded area appears under price action (and vice versa when red).
Trade active
⋅
Notice price action is now on 200-day EMA.
On the BTC chart below the ascending triangle formation is suggesting a break is imminent as price action moves to the upper side of the Bollinger Band. There is no resistance beyond here.
Comment
⋅
This is not the moment to FOMO into the market. That was a couple of days ago when everyone was bearish. The 8hr chart is overbought with price action outside the Bollinger Bands.
Wait for the 21-day EMA to catch up before adding to your positions. On all alt coins! This is market wide.
Comment
⋅
** swing trade opportunity **
Multiple high probability correction signals flashing on screen at the moment with price action way outside the Bollinger Band.
So we could enter this trade only when the price goes above the resistance line?
without_worries
⋅
@yipcode2018, That's the safe way. Normally in those situations I'd put down 30% now 70% after or 40% / 60% - depends on your tolerance for risk.
All my ideas I publish are a measure of probability. I'm highly confident this only goes one direction from here with the higher low printed in late April.
NowKris
⋅
@without_worries, Thank you Sir! Is your prediction still valid with the same conditions?
@without_worries, this one is not moving. During BTC crash it fall only 30%. What is your opinion at this point, why is not raising like the rest of the market?
without_worries
⋅
@yipcode2018, patience! Stochastic RSI has crossed up 20 (circled in orange), this is a good long position right now. Boredom + lack of patience is the enemy of every trader / active investor.