This one looks really interesting.
As you can see in the chart, the coin has been in a prolonged downtrend against btc, until buyers stepped in forming a beautiful rounding bottom which could in my opinion morph into a cup and handle pattern.
The buyers pushed the price higher from the bottom, producing a high RSI level, which needs to get lower.
That's the reason why I am expecting this to retrace a little bit more before breaking the blue upper line.
Once we break that line, we would have a perfect cup and handle reversal chart pattern. This combined with the green volume is a good sign of a reversal.
Also notice how the price pushed higher as soon as the ema 8 moved above the 21 ema, that would have been a perfect entry point, but one rarely enters at the very bottom, that's why I am expecting to correct and afterwards break that blue line to enter long positions.
Check my other ideas if you like this one. My posts are clearly for educational purpose only, not a financial advice.
As you can see in the chart, the coin has been in a prolonged downtrend against btc, until buyers stepped in forming a beautiful rounding bottom which could in my opinion morph into a cup and handle pattern.
The buyers pushed the price higher from the bottom, producing a high RSI level, which needs to get lower.
That's the reason why I am expecting this to retrace a little bit more before breaking the blue upper line.
Once we break that line, we would have a perfect cup and handle reversal chart pattern. This combined with the green volume is a good sign of a reversal.
Also notice how the price pushed higher as soon as the ema 8 moved above the 21 ema, that would have been a perfect entry point, but one rarely enters at the very bottom, that's why I am expecting to correct and afterwards break that blue line to enter long positions.
Check my other ideas if you like this one. My posts are clearly for educational purpose only, not a financial advice.
Note
That was the call of the year ^^ 80+% in 1 hour. 
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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.