Swingby / USD - An opportunity not to be missed.
Updated
On the above 1-day chart Swingby has corrected 90% since late February with a following oversold condition (orange column) and now presents an ‘incredible buy’ opportunity. Those opportunities are unusual in a bull market.
Why bullish?
1) The corrective A-B-C Elliot wave following the the impulsive wave up. Lovely structure.
2) Support and resistance - Looking left price action has tested resistance twice and been rejected. Once in September 2020 and again in December 2020. Price action is now testing resistance as support at the same time as RSI is @ 20. Fantastic.
Is it possible price action falls further? Absolutely.
Is it probable? Very unlikely. Risk / reward ratio is very appealing.
Target? I don’t know. One possible move is shown below. Resistance levels seem ridiculous, $10 and over. Who knows, the market capital is quite small and the project does seem genuinely interesting.
Good luck!
WW
Why bullish?
1) The corrective A-B-C Elliot wave following the the impulsive wave up. Lovely structure.
2) Support and resistance - Looking left price action has tested resistance twice and been rejected. Once in September 2020 and again in December 2020. Price action is now testing resistance as support at the same time as RSI is @ 20. Fantastic.
Is it possible price action falls further? Absolutely.
Is it probable? Very unlikely. Risk / reward ratio is very appealing.
Target? I don’t know. One possible move is shown below. Resistance levels seem ridiculous, $10 and over. Who knows, the market capital is quite small and the project does seem genuinely interesting.
Good luck!
WW
Trade active
Trade active
1st test point @ 30 centsTrade active
Bullish divergence emerges between price action and all oscillators. Remember this is a small market cap token, it will like move quickly if divergence is confirmed.Trade active
A textbook Dragonfly DOJI candle prints on the 10-day chart.Note
Complementing the above chart from June 29th, the 3-day chart is printing resistance breakouts on RSI and MFI as Stochastic RSI crosses up 20 (green shaded area).Trade active
A bullish engulfing candle recently printed on the 3-day BTC chart (circled in green). They do not happen often, but when they do they're a fantastic signal - look left.Remember the Dragonfly DOJI recently printed a couple of weeks ago?
750% rise to resistance.
Trade active
Price action breaks out of resistance and lands on past support - look left.Trade active
Price action breaks out of resistance. Two near term targets identified.Trade active
A nice clean break of the 50-day EMA (blue line). Look left.Blue skies ahead.
Note
10-day chart prints a textbook bullish engulfing candle.Trade active
Higher lows continue as stochastic RSI crosses up - excellent Note
On support (again!) - perhaps this time it will be different!Trade active
Not forgotten about this one... price action bullish divergences are growing in number on the higher time frames. On the 4-day chart below you can see '7' bullish divergences are active between price action and the oscillators, which is unusually high for such a high time frame. Should be like a rocket when it finally decides to move.Trade active
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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