Smooth love potion (SLP) - bullish divergenceSmooth love potion (SLP) - bullish divergence
On the above 1-day chart price action has corrected a massive 90% since mid-July. Now is a excellent time to be bullish, why?
1) The ‘incredible buy’ signal prints.
2) Seven oscillators are printing bullish divergence with price action following the ‘buy’ signal - more than excellent.
3) RSI resistance breakout.
4) The story is very similar on the SLP/BTC pair (chart below) with price action converging within a bullish falling wedge pattern. A breakout by early January must happen one way or another.
Is it possible price action continues to fall? For sure.
Is it probable? Very unlikely.
Good luck!
WW
1-day BTC chart