40 days ago on April 13th price action corrected 95% (if this is not enough convince you the Crypto tokens are a Ponzi scheme I don’t know what is), a number of reasons now exist for traders to open a long position into the remaining sell orders of the once project faithful. The reasons?
1. Price action and RSI resistance breakouts.
2. Trend reversal, price action prints a higher low.
3. A rally followed on the same bullish divergence configuration that printed throughout the history of this token. That positive divergence has printed once more.
4. The forecast is formed on the idea price action returns to market structure before continuing the downtrend. Was about to say nothing goes down in a straight line ;-)
Is it possible price action continue to correct? Sure.
Is it probable? No.
Ww
1. Price action and RSI resistance breakouts.
2. Trend reversal, price action prints a higher low.
3. A rally followed on the same bullish divergence configuration that printed throughout the history of this token. That positive divergence has printed once more.
4. The forecast is formed on the idea price action returns to market structure before continuing the downtrend. Was about to say nothing goes down in a straight line ;-)
Is it possible price action continue to correct? Sure.
Is it probable? No.
Ww
Trade active
Sellers flush themselves out of the market as price action confirms support on past resistance.Trade closed: stop reached
Somehow after a 90% correction seller dug deep for another break of support. Impressive.
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.