On the above chart price action has corrected 50% since early September. A number of reasons now exist to be bullish, including:
1) A ‘incredible buy’ has recently printed.
2) Price action has made an impulsive move to the upper side of the Bollinger Band.
3) Bullish divergences. 7 oscillators are currently divergence with price action. Fantastic.
4) The 10-day chart below recently printed a new candle on support. Look left, price action has reacted strongly to this level.
Is it possible price action falls further? Sure.
Is it probable? Very unlikely.
Good luck!
WW
10-day chart
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2-day chart prints a nice bounce off support as stochastic RSI crosses up 20 (purple risk). Reward / risk ratio is amazing. (i.e invest 1 BTC to make 2 is now highly probable).
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Meant to add above the bullish engulfing candle that printed on the 4-day chart recently. A signal not to ignore on this time scale.
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8 oscillators now showing bullish divergence over a 30-day period. More time diverging = more bullish.
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Bullish divergence confirms with price action making an impulsive move to the upper half of the Bollinger Band. That's not happened since early March 2021. Look left.
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60% more Bitcoin than 30 days ago ;0)
Some resistance around 900 sats should be expected as price action approaches. A large 'w' formation can be seen, if the 900 sats level is broken 1.4k sats would be the next resistance. After that 5-6k sats would be the last resistance before price discovery.
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Fractal... . the green squares. Price action breakout through the 200-day EMA (red line) and corrects to test as support as the 50-day EMA crosses up the 200-day.
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4hr dollar chart. Now that's buying the dip. Don't know the reason for all this volume but sure it will become clear soon enough. Follow the money.
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Remember the reversal patterns I talked about on the weekly chart tutorial? Here it is is on the daily BTC pair for RAMP.
The beauty of understanding this pattern is it can be used on any time scale; it's all just psychology.
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On the 2-day chart multiple oscillators print bullish divergence following a 'buy' signal
@peterbhc, very interesting, i saw 46.739%, where i can find that ratio you mentioned? And if RAMP is not DeFi 2.0, after lock period everyone sells and price drops rapidly. Only first comers will be served well..
peterbhc
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@susta, It was within the first few hours of release. Then as more staked, the APY was spread out and reduced.