So much going on in the above daily chart, multiple reasons to be bullish.
1) There was a ‘incredible buy’ signal, just did not get around to sharing. See 2-day chart below.
2) Price action has broken out from long term resistance since November 2021 as shown by the black arrow, do you see it?
3) Most recently price action has broken out from a bull flag formation during a month long consolidation period.
4) The Bull flag ‘flagpole’ extension measures a target to around $2, that’s almost 200% from current levels.
5) Price action consolidates on the golden ratio.
6) The Fibonacci golden ratio extension (1.618) measures out to the same target!
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: 6% of portfolio
Timeframe: no idea
Return: 200%
2-day chart
1) There was a ‘incredible buy’ signal, just did not get around to sharing. See 2-day chart below.
2) Price action has broken out from long term resistance since November 2021 as shown by the black arrow, do you see it?
3) Most recently price action has broken out from a bull flag formation during a month long consolidation period.
4) The Bull flag ‘flagpole’ extension measures a target to around $2, that’s almost 200% from current levels.
5) Price action consolidates on the golden ratio.
6) The Fibonacci golden ratio extension (1.618) measures out to the same target!
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: 6% of portfolio
Timeframe: no idea
Return: 200%
2-day chart
Note
breakout occurs before August 20thTrade active
Target revised to 1.70.
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
Related publications
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
Related publications
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.