Shown on the above 1-day chart price action has corrected 82% with oversold condition now illuminated (orange column). This is a ‘incredible buy’ opportunity.
Why bullish?
1) Regular bullish divergence between Money flow index (MFI) and price action.
2) The Fractal circled in orange. Conditions in January are identical to the present day.
3) Past resistance now acting as support.
Is it possible price action falls further? For sure.
Is it probable? Very unlikely.
Target? I’ve no idea. However projecting to the previous resistance of the last two peaks there is the potential for a 5-10x return.
Good luck!
WW
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Price action confirms double bottom on support as the oscillators prints higher lows.
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Possibly an excellent moment to go long - look left.
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'Incredible buy' alert illuminates on price action indicating a high probability of uptrend.
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For one reason or another the text did not come through the ’trade active’ alert.
Why alert? 10-day EMA crosses up 21-day EMA. Price action is very close to doing something increidble as before - Look left - yellow circles.
The something was:
1) The EMA crossover - red shaded area to green.
2) Price action moves to the upper side of the Bollinger Band and confirmed support.
Zooming in on 1 & 2:
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Both 3-day and weekly charts print Bullish engulfing candles. Look left. This is what a 10x opportunity looks like.
@Kalete, Like most things on the market right now, this asset is incredibly oversold. Small positions size only on this one, don't throw the farm at it.