FA:
- Alts going down because of BTC correction.
- I think BTC can go near 5200$ in a couple of days (0.618 Fibbonaci Retracement of the last rally).
- Many BTC rallys had a 0.618 retracement .
Entry:
- Below $2.6.
- Great entry due to low price. Its very unlikly the price goes any further down ( wedge triangle support line).
- The price it's in a 0.768 retracement of the all-time-high. Price is way too undervalued right now compared to the all-time-high (buy the deep).
- Price reached this value a couple of times before.
- Look for signs of oversold on the 4h chart to buy.
- Can go lower, but it's more important to get a good entry then none.
Target:
- Above 4.90$
- Break of the wedge triangle resistance line.
- Price reached this value a couple of times before.
- Great profit 88%.
- Look for signs of overbought on the 4h chart to sell.
- Can go higher, but its already a great return. See the follow up below.
Alerts:
- Crossing down 2.90$
- Crossing down 2.70$
What's Next:
- When the price breaks the wedge triagle pattern it will probably go down to test the new support line.
- Then we can enter the trade again for more profit.
Please feel free to comment and give your ideas below!
- Alts going down because of BTC correction.
- I think BTC can go near 5200$ in a couple of days (0.618 Fibbonaci Retracement of the last rally).
- Many BTC rallys had a 0.618 retracement .
Entry:
- Below $2.6.
- Great entry due to low price. Its very unlikly the price goes any further down ( wedge triangle support line).
- The price it's in a 0.768 retracement of the all-time-high. Price is way too undervalued right now compared to the all-time-high (buy the deep).
- Price reached this value a couple of times before.
- Look for signs of oversold on the 4h chart to buy.
- Can go lower, but it's more important to get a good entry then none.
Target:
- Above 4.90$
- Break of the wedge triangle resistance line.
- Price reached this value a couple of times before.
- Great profit 88%.
- Look for signs of overbought on the 4h chart to sell.
- Can go higher, but its already a great return. See the follow up below.
Alerts:
- Crossing down 2.90$
- Crossing down 2.70$
What's Next:
- When the price breaks the wedge triagle pattern it will probably go down to test the new support line.
- Then we can enter the trade again for more profit.
Please feel free to comment and give your ideas below!
Trade closed: target reached:
Missed the trade =(
The RSI never reached oversold levels, I was wainting for the 2.60$ (got too greedy) and i missed the entry at 2.80$. I'd be realy happy right now. Hope you got this one!
The RSI never reached oversold levels, I was wainting for the 2.60$ (got too greedy) and i missed the entry at 2.80$. I'd be realy happy right now. Hope you got this one!