This is looking similar to SALT and GVT before their recent rally.
- consolidation along the 4H 200 EMA
- massive volume spike but price going no where
- already bounced on the .618 fib after a potential 5-wave impulse move.
- triangle pattern after an up move which tends to be a continuation pattern
- RSI neutral = room to rise
- MACD bullish cross
- Hidden bullish divergence (purple arrows)
- At support
- RSI mini bullish divergence
- MACD about to bullish cross
- Williams alligator bearish
- Just had fairly strong move down
Would enter at the break of the previous williams up fractal for confirmation of bullish case. Or if it continues to go down, the next support at the 200 EMA...
Just an idea... If BTC has indeed broken down from a rising wedge, untested levels marked are where I expect a bounce from. HTF I still see BTC in an uptrend, but watching for a pull back. If price does approach the levels, I expect to see bullish divergence on LTFs for more confirmation that a bounce will occur.
- Price now doing a pull back after breaking out of the bearish head and shoulders pattern.
- volume declining as price creeps upwards
- bearish divergence: price making higher highs but oscillator making lower highs
- Overall looks weak from here hence expecting price to drop.
However, uptrend is still intact, hence I'm watching how it will bounce from...
While descending triangles are commonly thought as bearish, it can also break upwards. According to the pattern site, " Look for triangles with upward breakouts near the start of an uptrend".
- Based on the HTF context, PAY has been on a sustained downtrend for quite sometime so upward breakout of descending triangle (i.e. as a reversal instead of...
These are the untested levels I expect price to bounce from. Accumulation has already started on LTF as seen in bullish divs. I've orders set the lowest level. Lower the level, bigger the bounce (if price gets there of course).