On the above 5-day chart price action has corrected over 95% since May 2021. A number of reasons now exist to consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Price action backtests past resistance as support.
3) Support and resistance. Price action confirms support on past resistance. (Orange horizontal line)
4) 2-day life cross. Don’t assume, verify.
5) Wedge breakout forecasts 12x return as measured from low to high wedge touch points (orange arrows).
Is it possible price action falls further? Sure.
Is it probable? No
Type: Trade
Risk: <=6%
Timeframe for long: Yes
Return: 2000%
1) Price action and RSI resistance breakouts.
2) Price action backtests past resistance as support.
3) Support and resistance. Price action confirms support on past resistance. (Orange horizontal line)
4) 2-day life cross. Don’t assume, verify.
5) Wedge breakout forecasts 12x return as measured from low to high wedge touch points (orange arrows).
Is it possible price action falls further? Sure.
Is it probable? No
Type: Trade
Risk: <=6%
Timeframe for long: Yes
Return: 2000%
Trade active
Where ever you are in the world, have a look at the 10hr candle.
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
Related publications
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
Related publications
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.