Indicators have been showing bullish divergence for around a month, pretty extremely so now. Whilst divergence has been seen in many alts for the last weeks, this looks like a better set up with the Chaikin in agreement with other indicators.
Targets based on fib levels - timing is pretty much guess work.
MonetaryUnit has established a strong bottom at 1270 satoshis level. This support has been rejected multiple times, nevertheless, MUE/BTC failed to break lower. At the same time price stays below the downtrend trendline as well as 50 Moving Average.
MUE seems to be trapped within the triangle pattern, and at this point there is no confirmation of the price moving...
I'm a big fan of Wyckoff and his theories make it so easy to play out stocks that have bottomed out.
It's simple, buy coins that have bottomed out, are not making any further lows, but aren't really doing much either and have picked up their volume, because then, cause > effect, meaning a change/reversal is imminent
MUE meets all 3 criteria.
1) Low volatility
Figured I could get away with a punny title since cows are in the same animal family as bulls.
I'm bullish on the dad jokes in my content; along with the pump power of summertime $MUE's
In the past, we go sideways and once $btc takes off $mue will follow.
Altseason is upon us.... this might be an ~7X from here. I accumulate these community coins and...
Volume is rising, Stoch RSI is in the oversold state. We see a possibility of Double bottom formation to be finished on the 4-hour chart. Although BTC fluctuates hard this can be a safe long-term trade, targets are mentioned on the chart