On the above 1-day chart price action has corrected 80% since May. A number of reasons now exist to be bullish, including:
1) The ‘incredible buy’ signal just printed - look left!
2) A higher low has printed.
3) On the 2-day chart (below) bullish divergences versus price action continue to increase in number. In addition MFI and RSI resistance are running out of space. I can’t time bottoms, but I do practice dollar cost averaging in when I see convergence..
4) On 3-day BTC pair (middle) regular bullish divergences are increasing just as before (purple circles) - look left!
5) Lastly - the big picture - on the weekly dollar chart (bottom) price action is currently testing support on a multi year trend line going back to 2017. Will it hold? I think so. 7 oscillators diverging with price action on at the weekly chart!!
Is it possible price action falls further? Sure. I’m the last person that knows where the bottom is (and the top for that matter).
Is it probable? No! Price action has been correcting from $130 to significant support. If confirmed price action is projected to strike $300.
On a fundamental note, this 2016/2017 project has been busy during the bear market more than I knew. Blockchain first caught my attention with the possibilities of:
a) decentralised finance
b) decentralised storage
c) smart contracts (in multiple languages!)
d) oracles
e) Interoperability between chains
Guess which project has gone and integrated all five above?! This could be very disruptive for a number of projects out there.
A buy from <$30 is fantastic.
Good luck!
WW
2-day dollar chart
3-day Neo/btc chart
Weekly chart:
1) The ‘incredible buy’ signal just printed - look left!
2) A higher low has printed.
3) On the 2-day chart (below) bullish divergences versus price action continue to increase in number. In addition MFI and RSI resistance are running out of space. I can’t time bottoms, but I do practice dollar cost averaging in when I see convergence..
4) On 3-day BTC pair (middle) regular bullish divergences are increasing just as before (purple circles) - look left!
5) Lastly - the big picture - on the weekly dollar chart (bottom) price action is currently testing support on a multi year trend line going back to 2017. Will it hold? I think so. 7 oscillators diverging with price action on at the weekly chart!!
Is it possible price action falls further? Sure. I’m the last person that knows where the bottom is (and the top for that matter).
Is it probable? No! Price action has been correcting from $130 to significant support. If confirmed price action is projected to strike $300.
On a fundamental note, this 2016/2017 project has been busy during the bear market more than I knew. Blockchain first caught my attention with the possibilities of:
a) decentralised finance
b) decentralised storage
c) smart contracts (in multiple languages!)
d) oracles
e) Interoperability between chains
Guess which project has gone and integrated all five above?! This could be very disruptive for a number of projects out there.
A buy from <$30 is fantastic.
Good luck!
WW
2-day dollar chart
3-day Neo/btc chart
Weekly chart:
Trade active
When it comes to moving averages, bigger is better. Price action is currently testing the 200-week RMA (rolling moving average) on the 1-day chart, following a 'incredible buy' signal. Look left! I don't know how it is possible for this chart to look any more bullish from a risk/reward perspective.Recommend you go through the entire market looking for price action support on this RMA, there's certainly some opportunities to be had.
Note
A couple of interesting charts for this idea..1st on the daily there is now 10 oscillators printing bullish divergence. 10 is a crazy number.
On the 3-day chart MFI is at 0.02. The range is 0 to 100!
Circle in purple are the previous dips. I guess MFI can still got to 0.01!! :0)
Basically what the chart is telling you is ‘incredible buy’ doesn’t quite cut it anymore.
Trade active
So many blockchains developing in-house oracles - what Chainlink started the rest seem to be adopting."With the native #Oracle service & #NeoFS introduced in #N3, devs can tap into any external resources over HTTPS, and granting devs full control over where & how their application data is stored and accessed."
Who will gather the most network effects first?
Trade active
Price action prints a higher low on the golden ratio. First time since late October.Note
Forgot to add the chart in last post. Double bullish engulfing candles on the 2-day chart with the 'great buy' signal. Look left.Note
7 oscillators currently printing bullish divergence including MACD.Trade active
Note
Forgot the chart... Price action breaks out of resistance following the bullish divergence, excellent.
Note
No buy signal yet however price action is approaching the golden ratio.
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.