Tellor (TRB) / USD - Hidden bullish divergence
The market seems to be effervescent all of a sudden. What pops next?
A number alt coins are showing overbought conditions, nothing is oversold at the moment. So what do I do with my profits from something that is knowingly overbought? (Dogecoin I’m thinking of you).
That answer is I move profits into the next most bullish looking position that is yet to become overbought. It is not easy to do, however, if you ignore emotion you can really magnify your overall gains.
On the above daily chart there is a Hidden bullish divergence in price action with the oscillators. A lower low in Stochastic RSI as price action move higher = bullish.
Furthermore RSI support was recently confirmed again for the third time in as many weeks. This support looks set to continue through until the month of May.
On the weekly chart below, still some hours until close, however watch closely - not many alt coins are looking this bullish. Should the weekly candle close such as it looks now with little to no shadow above (wick above candle body) - it suggests to me a strong move to the upside will be next.
1st target $76
2nd target $140
A number alt coins are showing overbought conditions, nothing is oversold at the moment. So what do I do with my profits from something that is knowingly overbought? (Dogecoin I’m thinking of you).
That answer is I move profits into the next most bullish looking position that is yet to become overbought. It is not easy to do, however, if you ignore emotion you can really magnify your overall gains.
On the above daily chart there is a Hidden bullish divergence in price action with the oscillators. A lower low in Stochastic RSI as price action move higher = bullish.
Furthermore RSI support was recently confirmed again for the third time in as many weeks. This support looks set to continue through until the month of May.
On the weekly chart below, still some hours until close, however watch closely - not many alt coins are looking this bullish. Should the weekly candle close such as it looks now with little to no shadow above (wick above candle body) - it suggests to me a strong move to the upside will be next.
1st target $76
2nd target $140
Comment:
Price action lands the on the 21-week moving average. I'm holding this one too - it is normal to be fearful during these pull backs and sell - worst thing that you can do at this moment. My plan is to continue Dollar Cost Averaging in (DCA).
Trade active:
Next target $80 following bull-flag breakout confirmation.
Trade active
Comment:
Some info that might be useful. August 30th 2020, price action hit the highest point in TRB's history, $77. There is no more resistance after price action moves beyond this level.
Trade active:
Successfully passed resistance following breakout. To the moon.
Comment:
Buckle up - monthly candle for April at close prints strong price action support. In short, it is super bullish - will publish something a little later on this token and others as to why these monthly candles are not opportunities to ignore.
Trade active:
Kaboom - Coinbase listing.
180% return so far.
180% return so far.
Trade closed: target reached:
Target and beyond.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR