Hello, I am back with another idea on HOTUSDT pair, 2h time frame. BTC has really messed the market a bit, but HOT looks strong in the area between 0.0075-0.0092. Every time btc drops, HOT seems to hold strong. However, I will state two scenarios here, due to the fact that I am not very bullish on BTC yet.
FIRST SCENARIO- We are seeing a falling wedge movement from HOT. According with the movement of BTC, it is forming a quite strong bullish scenario if BTC gets stable, starts to accumulate. However, it needs a breakout in the orange lines for a bit, and the moves straight up, to the ATH probably. However, TP1 for me is 0.011, TP2 is 0.016, so I can call it ready to move to another very bullish move to the ATH and more and complete it finally.
SECOND SCENARIO- If BTC drops to 35k and lower, I guess we will go straight to the black circle in the chart, and hopefully bounce back there, as long as it still remains in my chart, AREA WE MUST NOT CLOSE UNDER. It has been effective and I still think we can form a bottom there. However, be careful with your trading. Keep a close eye on BTC. And be smart and patient. Hopefully, HOT will bounce back strong. If you have any comment, you feel free to add anything. :)
FIRST SCENARIO- We are seeing a falling wedge movement from HOT. According with the movement of BTC, it is forming a quite strong bullish scenario if BTC gets stable, starts to accumulate. However, it needs a breakout in the orange lines for a bit, and the moves straight up, to the ATH probably. However, TP1 for me is 0.011, TP2 is 0.016, so I can call it ready to move to another very bullish move to the ATH and more and complete it finally.
SECOND SCENARIO- If BTC drops to 35k and lower, I guess we will go straight to the black circle in the chart, and hopefully bounce back there, as long as it still remains in my chart, AREA WE MUST NOT CLOSE UNDER. It has been effective and I still think we can form a bottom there. However, be careful with your trading. Keep a close eye on BTC. And be smart and patient. Hopefully, HOT will bounce back strong. If you have any comment, you feel free to add anything. :)
Comment:
First TP - 0.011 reached, now we have to keep an eye at BTC, in order for HOT to continue higher