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without_worries
Jul 5, 2021 7:12 PM

UpBots (UBXT) Long

UpBots / USD TetherFTX

Description

*caution ~10m market cap*

On the above 1-day chart price action has collapsed 70% since mid-April and has now found support on past resistance. The ‘incredible buy’ signal is now illuminated. The past resistance / support is a little clearer here:

coinmarketcap.com/currencies/upbots/ Price action peaked out around 3 cents


On the 4-day chart a ‘Dragonfly DOJI’ candle printed as Stochastic RSI is now <1 for a period approaching 50 days. From a risk / reward perspective it doesn’t look any better than this.

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Comment

No change here - all is good - be patient!

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Searched every alt-coin on the weekly charts, this is the only one showing a Dragonfly DOJI candle on the weekly and successfully bouncing from the golden ratio (below).

Meanwhile the 3-day dollar chart (bottom) prints a Dragonfly DOJI also with support on the 21-week EMA.

A move to 9 cents should be expected in the first instance.

Weekly chart:


3-day chart

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Comments
foobared1337
I dont think so, I believe this project has bottom at 0.015, im short from 0,036
without_worries
@foobared1337, be careful with them shorts. As mentioned above *caution - small market cap*, this could 100x and still it would be a tiny market capital!

Lastly, have a look at the weekly chart below. Stochastic RSI just crossed up 20 (circled in purple). Never go short into a cross up of 20. A down of 80, yes. A up over 20 tells you lots of momentum is about to enter the market.

foobared1337
@without_worries, Can you please update us, looks like there is forming inverse head and shoulders setup?
without_worries
@foobared1337, let's have a look...
foobared1337
@without_worries, Thank you for the quick update!
without_worries
@foobared1337, I hope you're still not short!
foobared1337
@without_worries, nope, im long from 0.029
foobared1337
@without_worries, realistically how high do you see it to move? My absoulte top target on this is $0.25-$0.27
without_worries
@foobared1337, I don't know. When a overbought condition is highlighted then we'll know!

I'm not in this trade so please leave a comment if you want an update.
sashakusak
Thank you, @without_worries! Any idea on price targets?
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