Long

Updated

Perpetual Protocol (PERP) - Bullish divergence

On the above 1-day chart price action has corrected 95% following the break of market structure last November. Multiple reasons now exist to be bullish. Very bullish.

1) The ‘incredible buy’ signal.

2) The 2nd ‘incredible buy’ signal. Double ‘buy’ signals don’t often print, but when they do… Only three tokens in all of Binance/Coinbase are currently printing this way. Would you like to know the other two? Then get this idea to 100 likes ;-)

2) Regular bullish divergence. Multiple oscillators are printing positive divergence with price action.

3) RSI resistance breakout.

4) Price action prints a higher low on the golden ratio following a breakout from the falling wedge.

5) Volume. Lots of it. Not just this exchange. I’ve no idea why. Someone knows something I don’t. Volume divergence like this is not to be ignored.

6) The 2-day BTC pair prints on historic price action support (below) with buy signal. Do you see the inverse head and shoulders?

7) Nudge nudge wink wink… Don’t know what I’m talking about? Shame.

Is it possible for price action to fall further? Sure.

Is it probable? No and no.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: 2 to 6 months
Return: 20x minimum

2-day BTC pair

Trade active

Price action resistance on the 15hr breaks out, don't ignore.

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resistance breakout

Note

A few messages asking about the target for this one. My answer, read the idea!

Note

Up 80% in 20 days. Today's sellers were buyers in the last 20 days, this will cause a higher low to print. Look out for that if you missed the opportunity, don't FOMO. Yes a 20x is expected ($14-16 area) but that's not a reason to rush in, be patient for a higher low.

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** To users of the PoP indicator **

This would be an excellent moment to close swing trades. Both USD and BTC pairs on the 4hr charts are printing ‘incredible buy’ following the sell signal at $1.30.

4hr USD Chart

4hr BTC chart

Note

3-day BTC chart prints an green inverted hammer candle. Very bullish. Look left.

Same is true for the 3-day USD chart. First resistance should be around $3.80

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On the daily there was a breakout + backtest. Flagpole suggests a $1.15 target near term

Note

up 20% since last update, breakout confirmed

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Price action popped all the way to 95 cents and is now back to 57. Don't look a gift horse in the mouth.

Price action is again printing a strong buy signal as it finds support on the past resistance, which is also a Fibonacci level.

Note

I’ve been ransacking my grey matter to understand where I saw this chart before following the last update today.. then it occurred to me, It was MATIC. Honestly folks, I don't get paid enough for this life changing info. All updates to this one going forward will be on the Patron page.

Each of the candles below are 10-day candles on the BTC pairs. The Symmetrically is beautiful. The only signifiant difference this time is PERP (right hand side) is printing bullish divergence with ’10’ oscillators instead of the ‘2’ MATIC was printing with at the time. The setting used on the oscillators is identical.

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Did you see what just printed?

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5-day Dragonfly DOJI candle confirmed on the BTC pair. Do not ignore.

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It is interesting tokens such as C98, DYDX, and now PERP are seeing positive inflow of volume in the light of everything that happening. Folks are exploring decentralised options. Expect other tokens in the decentralised space to outperform.

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Someone asked before, I forget who, when does an excellent moment become an exceptional moment?

Should I get some flags?

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Don't chase it if you feel like you've missed out. Remember, there's always opportunity.

For those long, stay that way until $20.

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A lot of PM's asking if it is okay to go long now, should they wait for ABC price etc.

Answer. Stop trying to time the market!!!!

If the exact cent is important, you've probably got too much skin in the game. All that said, the 4hr chart is not printing a buy at this moment in time.

4hr

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Might be a good moment, not had one of those signal print in a while...

18hr

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Note

GRM support confirmed on both USD and BTC pairs... very interesting.

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Never ignore the confirmation of GRM support folks.

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On support. Now take wave 3 to eight dollars.

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Now on Golden ratio. 90% sellers, 10% are buyers.. which are you?

Daily chart

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take profits at 1.40 for swing trade

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and go long again at 52 cents

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Got a lot of pushback messages on the above comment on Sep 7th-

Clockwork...

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About to go parabolic.
Will explain why elsewhere...

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GRM support confirmed

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P's, remember the 1,2,3 pattern discussed on Wing? Well...

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PS: Remembering, we never know the when only the probability.

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So.. a hint and a nudge and a wink..

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GRM support confirms. Blue circles.

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GRM support confirmation strikes again!

Hold if you can until $20.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on:

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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.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on: