Pulling the trigger here to go for long.
Reasons for long postiion:
1)Daily looks like it wants to print a bullish hammer.
2) Bullish DIvergence on RSI
3) Downtrend volume has decreased a lot in the daily time frame
4) Almost reaching the bottom of Bolliger Band
Wish me luck ;) If this trade turns out to be in favor, partial profit taking will start form...
Daily time frame price action shows no sign of reversal, it would be irrational to hop in so early.
B zone 1 shows a lot of confluence and I'm ready to scale in slowly from B zone 1 to B zone 2.
Weekly time frame shows no bullish sign either FYI. So please exercise extra caution before buying the dip!
It has been a very long time I'm away from TV as I was very busy lately. Anyway, if you have seen my previous chart and entered the position, congratulations! You have made some sick GAINZ for around 122% for now.
On the daily timeframe , I have noticed a bearish divergence indicating the buying pressure is decreasing and there might be a slight pullback from...
Note that we are having a truncated fifth wave, which means the correction can reach beyond 0.65fib lvl, which renders the next target around 10937sats, expect a bounce here to retest 0.65 lvl ( confluence with the weekly major trendline).
My previous bullish count of target wave 3 at 50k sats is still accountable as long as the wave 2 never retraces 100%....
I'm sorry for the bottom that I called (21000-23000) has been breached as I never expected upbit fud will happen (duh i'm not a prophet for this).
So, back to the topic, from the daily timeframe, we can see gvt bounces at 20500-21000, which is kind of close to my bottom LOL, anyway I'm still wrong (500sats away). Thus, 20000sats is a very strong support zone for...