Price action for a number of alternative coins has obviously taken a beating over the past several weeks. How do you take advantage if you’re already sitting on losses? Easy.. look for those that have fallen even harder.
Spent the last couple of hours calculating ratios from recent highs to current price action on Binance listed tokens.
Coming in at a ratio of 5/1 since a high of $3.20 is Origin Protocol now at 65 cents.
On the above 1-day chart a number of bullish signals exist:
1) The oscillators indicate a ‘great buy’ opportunity (orange column).
2) Look left, price action is showing support on previous resistance. Furthermore on the OGN / BTC chart (below) price action is showing the same support and resistance whilst testing support on the 200-day SMA.
3) Price action has now corrected to the 0.618 golden ratio (not shown here).
Is it possible price action falls further? For sure.
Is it probable? Unlikely - but what is certain, the risk / reward ratio is very appealing given all this volatility.
1st target $3 / 5x from current levels.
Good luck,
WW
Spent the last couple of hours calculating ratios from recent highs to current price action on Binance listed tokens.
Coming in at a ratio of 5/1 since a high of $3.20 is Origin Protocol now at 65 cents.
On the above 1-day chart a number of bullish signals exist:
1) The oscillators indicate a ‘great buy’ opportunity (orange column).
2) Look left, price action is showing support on previous resistance. Furthermore on the OGN / BTC chart (below) price action is showing the same support and resistance whilst testing support on the 200-day SMA.
3) Price action has now corrected to the 0.618 golden ratio (not shown here).
Is it possible price action falls further? For sure.
Is it probable? Unlikely - but what is certain, the risk / reward ratio is very appealing given all this volatility.
1st target $3 / 5x from current levels.
Good luck,
WW
Trade active
Note
80% in 48 hours?! A 'V' shaped recovery.Note
A buy from 85 cents is great if you can get it during this dip.Note
had meant to publish this when the buy signal appeared, never got around to it..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.