We are going to look at a very simple dynamic on this pair: Bearish wave low leads to a bullish wave.
Every single bearish wave low is followed by a bullish wave.
In both instances, October 2022 and January 2021, the first week is really strong, following the bearish wave low.
Currently, PHABTC is trading just above a new All-Time Low that hit this same week.
The ATL hit Monday (12-Feb.) and now we have a green candle.
The action moved above EMA10 which means that the bulls now have the upper-hand.
This is potentially a bottom catch... Ultra-low risk with a very high potential for reward.
Additional details on the chart.
Namaste.
Every single bearish wave low is followed by a bullish wave.
In both instances, October 2022 and January 2021, the first week is really strong, following the bearish wave low.
Currently, PHABTC is trading just above a new All-Time Low that hit this same week.
The ATL hit Monday (12-Feb.) and now we have a green candle.
The action moved above EMA10 which means that the bulls now have the upper-hand.
This is potentially a bottom catch... Ultra-low risk with a very high potential for reward.
Additional details on the chart.
Namaste.
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