"Trump token, it's gonna be huge, believe me. We're talking about a tremendous move, a total win, unlike anything you've ever seen. The fake news, they won't tell you but this token it's exploding. It's happening folks everyone knows it, everyone is talking about it."
Alright, enough of that...
On the above 1 day chart price action has corrected 45% since the month of April. The chart now displays a compelling technical setup for a 100% move to $18.
Bullish Arguments:
Support and resistance
The trend
Divergence
Conclusions
Is it possible price action continues to print lower highs? Sure.
Is it probable? No.
Ww
Alright, enough of that...
On the above 1 day chart price action has corrected 45% since the month of April. The chart now displays a compelling technical setup for a 100% move to $18.
Bullish Arguments:
Support and resistance
Price action and Relative Strength Index (RSI) breakout from downtrend resistance. Price action also confirms support on past resistance (red / blue arrows).
The trend
A higher low print is confirmed with the downtrend resistance breakout. The RSI also mirrors this trend reversal with a higher low print.
Divergence
Look left. Five oscillators now print positive divergence with price action.
Conclusions
The downtrend clearly now shows signs of reversal. The next two resistance levels are shown, beyond that is unknown until the upper resistance confirms support. Not expected to occur in this market cycle.
Is it possible price action continues to print lower highs? Sure.
Is it probable? No.
Ww
Trade active
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.