alanmasters

Mithril Early Wake Up Call - Multiple Time Frames (50%-230%+ PP)

BINANCE:MITHBTC   Mithril / Bitcoin
Mithril ( MITHBTC ) is giving out some "early wake-up signals". We are going to be looking at two different time frames for this pair.

Let's start with the 4H TF:
  • First we can see a huge increase in volume on this chart.
  • The big volume is being used to break above resistance. The first try failed on 8th February. MITHBTC was trying to break above EMA50 (magenta line).
  • The second try was successful, and you can see a high volume breakout above EMA50. This is our first confirmed bullish signal on this time frame.
  • The RSI is bullish . And the MACD has entered the bullish zone as well.
  • Short term retrace can be followed by strong bullish action.

We continue with the daily time frame (1D TF):

  • Here we can see that MITHBTC is challenging EMA10 (green line).
  • Volume starting to build up. Still low but above average.
  • RSI coming out of oversold and trending up.
  • MACD Bullish crossover.

For these signals to develop fully, the bulls need to follow up as these are early signals.

Conditions for change: If MITHBTC moves down and closes below 0.00000944 on the daily time frame, the above signals are invalidated and a new analysis is needed.

All details can be seen on the chart. Target and stop loss.

Remember to hit LIKE.

Thanks a lot for reading.

Namaste.
Feb 13
Comment: The weekly chart is also very telling:
- The TD Sequential here is our main indicator giving us a perfect negative nine count with a flat bottom.
- This one can easily move up from here.
- Remember to always use a stop loss when trading.
- Have a nice day.
Feb 13
Comment: (1) 0.00001175 -Reached 13-Feb. (+17%)

Enjoy the profits.
Feb 14
Comment: (1) 0.00001175 -Reached 13-Feb. (+17%)
(2) 0.00001245 -Reached 14-Feb. (+24%)
(3) 0.00001315 -Reached 14-Feb. (+31%)
(4) 0.00001414 -Next target.
Feb 15
Comment: We hit three targets and now MITHBTC is on its retrace, this is 100% normal.

The next step is to wait patiently until the uptrend resumes.

If it breaks down completely and kills your stop loss, then you can close the trade.

For me (us), we raise stop loss above buy-in level after we hit our first target depending on the trade and the charts.

(Update by request).

Namaste.
Feb 17
Comment: Trade: Mithril

BUY: 0.00000960 – 0.00001050
(Avg buy-in: 0.00001005)

TARGETS:

(1) 0.00001175
(2) 0.00001245
(3) 0.00001414
(4) 0.00001540

STOP: Close daily candle below 0.00000930.
Mar 12
Comment: +18% Profits generated... More to come.

TARGETS:

(1) 0.00001175 -Reached 11-Mar.
(2) 0.00001245 -Reached 11-Mar.
(3) 0.00001414 -Next target
(4) 0.00001540
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really appreciate your insight on small cap markets. Thanks for helping us find great opportunity in a bear market like this.
+1 Reply
@kibbbs, It is truly my pleasure. Your message is appreciated.

Namaste.
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as usual, you always found a gem. Thanks
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@iljaguzik, :)

Thanks to you for the continued support.
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