On a recent update to the expected alt-token market dominance idea I alluded a number of alt-tokens can expect a 10x return.
On the above 2-day charts price action has corrected over 95% since last November! Ouch. A number of reasons now exist to be bullish, including:
1) The ‘incredible buy’ signal prints. This is also true for the 5-day chart (below). You don’t often see those signals on the 5-day but when you do… currently 9 alt-tokens across the entire market using high volume exchanges are printing this signal on the 5-day.
2) RSI resistance breakout on both trading pairs.
3) Less that 45% of the circulating supply is held on the top 10 wallets. Normally I don’t mention this in my ideas but when you’re looking <$100m market cap it is relevant. It is surprising how many of the popular tokens out there have 90% of circulating supply held by the top 10 wallets excluding exchanges. On this one the exact opposite is true, excellent.
It is possible price action falls further? Sure.
Is it probable? No.
Good luck!
WW
PS: If I have time I’ll think about publishing the other 7, or have I already ;-)
5-day incredible buy
On the above 2-day charts price action has corrected over 95% since last November! Ouch. A number of reasons now exist to be bullish, including:
1) The ‘incredible buy’ signal prints. This is also true for the 5-day chart (below). You don’t often see those signals on the 5-day but when you do… currently 9 alt-tokens across the entire market using high volume exchanges are printing this signal on the 5-day.
2) RSI resistance breakout on both trading pairs.
3) Less that 45% of the circulating supply is held on the top 10 wallets. Normally I don’t mention this in my ideas but when you’re looking <$100m market cap it is relevant. It is surprising how many of the popular tokens out there have 90% of circulating supply held by the top 10 wallets excluding exchanges. On this one the exact opposite is true, excellent.
It is possible price action falls further? Sure.
Is it probable? No.
Good luck!
WW
PS: If I have time I’ll think about publishing the other 7, or have I already ;-)
5-day incredible buy
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I've had a few messages asking me about a target. Folks, the clue is in the title ;)Beyond 10x, 27 cents would be the next target where price action was last November. 20x.
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220% returned in 5 days! There's bound to be some profit taking. Look for support on the 50-day MA currently around 2.6 cents.Note
A few messages asking if it's time to be long. No, not yet. There's no 'buy' signal at the moment. But keep messaging, it is the only way I'll update those ideas.Trade active
Might be a good moment to close swing trades / open long trades.On the 8hr chart (USD left / BTC right) ‘incredible buy’ signals prints.
On the 2-day chart price action is lands on the 0.618 golden ratio.
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Up almost 40% since last update, amazing.Note
Falling wedge with flagpole extension measurement to 9 cent targetTrade active
The last update of the wedge has now printed a breakout on past resistance.260% move from current levels.
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Thought I might share this since someone below asked. If you don't ask I'll never update! Not in the majority of ideas I publish remember.The Fib extension target is $2.60 or 17000% way from current levels.
Price action is currently on the golden ratio.
This particular idea also meets the conditions of my 'what if' idea - nudge nudge wink wink ;)
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On the 3-day chart a Dragonfly DOJI prints on the BTC pair. The name of the game now is: How much can I increase my Bitcoin number? This is how folks.. Note
On the BTC pair a breakout appears to have occurred on price action resistance within falling wedge pattern.Note
I do like those divergencies when they appear. When this idea was first published at 1.3 cents, it was clear the long term sellers were exhausted. Now buyers stepped in, very nice rally then a lower low follows in time. We now have sellers entering the market after purchasing at a higher price! Are you one of them? Anyhoe, the point of this update is to highlight the breakout of RSI resistance after the divergence printed.
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** target update **, not 10x but now 150x Yes, to $1.90 maybe $2 by August / September 2022.Note
On the 2-day BTC pair (makes no sense to look at the dollar pair at this time) price action has broken out of a bull flag formation with a projected 250% target.Remember this token is on the 'what if' list.
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11 Oscillators printing bullish divergence on the 2-day dollar chart. Incredible. There'll be not catching it once it pops.Note
As far as I can tell across the high volume exchanges this is the first time RSI 50 has printed support (red circle) on the BTC pair.Okay WW, why is that important? Well I've been watching a whole host of alt-token printing that signal (not publish the fact, can't be bothered)...
The last one to do so was NMR
Airswap
There's 4 others doing this across the market at this time. Po3 users, you already which ;)
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Price action resistance broken.Note
Have been waiting what feels like ages for this to happen. Price action finally breaks through the 2-day / 50-day SMA, which has been acting as resistance all year. A 2x until the next resistance.Trade active
Trading is not 'active'. Trading is 'active with active bits on it and those bits have fireworks'
Three things, on the 1-day chart:
1) Price action has broken out of and back tested resistance to confirm as support.
2) Multiple oscillators are printing bullish divergence.
3) The SATS price is around 35, which is the exact same as when this idea was published.
4) Secret. PM me if you want to know!
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Daily chart just printed... look left Note
Starting to see evidence of capitulations, excellent. Not just on this token.A number of holders are being squeezed at as pain reaches max.
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The highest number of oscillators to print bullish divergence occurred yesterday on the 3-day chart.When there's blood on the streets don't sit on your hands. Act.
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Something that has not happened since July 2021, or March 2022 has happened today. Do you see?Trade active
This would be an exceptional moment. 3-day charts below.Note
Incredible, exceptional, I don't know what to call this next one. I can never know the 'when', the only certainty is a post below asking 'do you think it will come back down again? I really thought it was going to fall lower'Note
on supportNote
Someone shared this to me, all very interesting. Keep sharing folks!youtube.com/watch?v=cWnU-cVe_xI
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GRM support confirmed.Note
nowOrder cancelled
This idea was cooked a long time ago when market structure broke earlier in the year. A sell signal printed in early 2024, it wasn't wrong.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.