without_worries

UMA vs USD/BTC

Long
At the moment there are many oversold alt-coins presenting an excellent opportunity. However it is important to add not all alt-coins are showing those oversold conditions. In fact there are a number of alt-coins that remain overbought, so be careful.

On the above 1-day chart we have a 68% correction since mid-September and an oversold condition (orange column) from around mid-October. The same is true for the Bitcoin chart (below). More excitingly we have a month long bullish divergence on the Bitcoin chart.

1-day BTC chart with Bullish divergence (blue lines)


The weekly chart (below) recently printed a morning star reversal candlestick pattern with confirmation.


1st target $9
Trade active:
Target reached!

Still plenty of upside to come -
Comment:
Moving nicely now - becoming overbought on the daily - no action to take at the moment.

Comment:
becoming overbought on the daily


BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: www.patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.