On the above 2-day chart price action has corrected a whopping 95% from $1450 in May. A number of reasons now exist to be bullish, including:
1) The ‘incredible buy’ signal prints.
2) Price action resistance and RSI resistance breaks out.
3) Bullish divergence between price action and the oscillators. Remember this is a 2-day chart. 10 oscillators are currently printing bullish divergence including MACD. Fantastic. The divergence is very clear to see on the weekly chart (below).
4) Point 1 through 3 are also applicable for the BTC pair no matter the exchange with evident volume divergence.
Is it possible price action falls further? Sure. But after 95%?!
Is it probable? No.
Good luck!
WW
Point 3 - Divergence on weekly dollar chart
Point 4 - BTC pair
1) The ‘incredible buy’ signal prints.
2) Price action resistance and RSI resistance breaks out.
3) Bullish divergence between price action and the oscillators. Remember this is a 2-day chart. 10 oscillators are currently printing bullish divergence including MACD. Fantastic. The divergence is very clear to see on the weekly chart (below).
4) Point 1 through 3 are also applicable for the BTC pair no matter the exchange with evident volume divergence.
Is it possible price action falls further? Sure. But after 95%?!
Is it probable? No.
Good luck!
WW
Point 3 - Divergence on weekly dollar chart
Point 4 - BTC pair
Trade active:
On the 2-day chart price action appears to have broken out from several months of resistance.
Trade active:
3-day dollar chart prints Stochastic RSI crossing up 20 following 'buy' signal
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