On the above 2-day chart price action has corrected almost 80%. A number of reasons now exist to be bullish, including:
1) Strong buy signal (not shown).
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence. 8 oscillators currently print positive divergence with price action. A clearer overview may be seen on the 8-day chart below.
4) Lastly price action is currently on the golden ratio following the breakout. Typically a good long entry.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: no idea
Return: no idea
8-day divergence
1) Strong buy signal (not shown).
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence. 8 oscillators currently print positive divergence with price action. A clearer overview may be seen on the 8-day chart below.
4) Lastly price action is currently on the golden ratio following the breakout. Typically a good long entry.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: no idea
Return: no idea
8-day divergence
Trade active
**GRM support confirmed**Note
Price action up 70% since confirmation of GRM ;)
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.