This altcoin has hit an all-time low, so this one has truly bottomed.
On the way up, LONG TERM, it has the potential to generate profits in the tune of 7000% to 20,000%+... I know, crazy numbers, but this is the cryptocurrency market at the bottom.
If you check past history, you will realize that this is something as normal and natural as altcoins losing over 95% of their value in mass in this bear market.
Just as an altcoin can reach a new all-time low, they can also make new all-time highs when the bull cycle comes. Keep this in mind.
Now, let's get back to the signals:
- The "hammer" is a when it comes out at the bottom of a trend. It signals the potential beginning of a change of trend.
- Followed by this is a high breakout above EMA10 (green line). The bar is not really that big but is higher than all the previous green bars since 24-Jan and the day is just starting. It will be bigger by the end of the day if the bulls follow up.
- So these two simple can signal the beginning of a change of trend.
- Since these signals can be invalidated, the markets/trading bots do whatever they want, we always use a stop loss when trading.
- Another strong signal on the is the on the , marked by the blue line. This signal further supports the two signals above.
- A is just an extra. :)
Conditions for change: If IOPBTC moves down and closes below 0.00002622, then the above signals would get invalidated and a new analysis is needed.
This is an educational post.
Thanks a lot for your continued support... Perhaps now, you want to hit LIKE? Feel free to do so...
This is Alan Masters.
(2) 0.00004250 -Reached 6-Mar. (+34%)
Total profits to the peak reached so far (more to come): +48%.
Enjoy the profits.