Neblio, strong bullish divergences and bullflag, new run coming?
Neblio! First time charting on Tradingview.
A coin with some new partnerships coming up in the next week. But I’d like to discuss this one on the TA point of view.
This is a chart with 6 hours candles. What do we see?
Touched the 14K support zone after some retracement due to Bitcoin.
Multiple timeframes:
Bullish divergences on RSI, Stoch RSI, MACD, Histo and CCI.
Potential bullflag in the making and bouncing on support line of the uptrend.
What do we see more? Strong accumulation phase in the past few months. So, what do I expect from this little friend?
Scenario’s:
1: We might see some upwards movements within this flag, making the D. After that (probably hand in hand with BTC) we see another drop, the E of this flag. 13k zone is the best buy then for me, probably making stronger bullish divergences there as well. On the other hand, a higher E is likely too.
2: We break out upwards due to the news and continue the uptrend.
I’m leaning towards the first one (given the fact that BTC is in a bad shape right now, as discussed on here).
What are the best entries and/or plays here?
When it retraces, I’d start buying at the 14K zone. The best entry you could get, in my opinion is 13K sats. That’s for swingtrading approaches.
Another strategy is buying the breakout, but in that case you’ll have to wait a bit.
A coin with some new partnerships coming up in the next week. But I’d like to discuss this one on the TA point of view.
This is a chart with 6 hours candles. What do we see?
Touched the 14K support zone after some retracement due to Bitcoin.
Multiple timeframes:
Bullish divergences on RSI, Stoch RSI, MACD, Histo and CCI.
Potential bullflag in the making and bouncing on support line of the uptrend.
What do we see more? Strong accumulation phase in the past few months. So, what do I expect from this little friend?
Scenario’s:
1: We might see some upwards movements within this flag, making the D. After that (probably hand in hand with BTC) we see another drop, the E of this flag. 13k zone is the best buy then for me, probably making stronger bullish divergences there as well. On the other hand, a higher E is likely too.
2: We break out upwards due to the news and continue the uptrend.
I’m leaning towards the first one (given the fact that BTC is in a bad shape right now, as discussed on here).
What are the best entries and/or plays here?
When it retraces, I’d start buying at the 14K zone. The best entry you could get, in my opinion is 13K sats. That’s for swingtrading approaches.
Another strategy is buying the breakout, but in that case you’ll have to wait a bit.
Trade closed: stop reached:
Didn't make it up due to the current market conditions, unfortunate!