On the above daily chart price action has corrected a whopping 95%. A number of reasons now exist to be long, including:
1) The ‘incredible buy’ signal has printed. Look left.
2) Price action has bounced on the 0.786 Fibonacci level that is also past support. Look left (orange line).
3) Regular bullish divergence - clearly visible on the 2-day BTC pair (below). The lower low in price action is also finding support on past resistance. Excellent.
4) Nudge nudge wink wink. Know what I mean..
5) Target is around $70 once price action confirms a breakout from the bull flag as shown below on the 3-day chart.
Is it possible price action falls further? For sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: 3 - 18 months
Return: 10x minimum
2-day BTC pair
3-day chart - About the target
1) The ‘incredible buy’ signal has printed. Look left.
2) Price action has bounced on the 0.786 Fibonacci level that is also past support. Look left (orange line).
3) Regular bullish divergence - clearly visible on the 2-day BTC pair (below). The lower low in price action is also finding support on past resistance. Excellent.
4) Nudge nudge wink wink. Know what I mean..
5) Target is around $70 once price action confirms a breakout from the bull flag as shown below on the 3-day chart.
Is it possible price action falls further? For sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: 3 - 18 months
Return: 10x minimum
2-day BTC pair
3-day chart - About the target
Trade active
** target update - $170 **This would take market capital to just over $22.5b if my math is right (it usually is) or just over 1/4 Cardano’s $96b market cap at $3 ADA when they were calling for $20 ADA and beyond.
Below is the same daily chart as published except now with bullish divergence. Lots of it, 11 oscillators now.
Look left, the fractal is beautiful. The last time this signal printed price action rallied over 4600% for the next 3 months.
Why the new target? I measured the Fibonacci re-tracement incorrectly? No, I just did not read the ‘1’ in front of the 70!!
Ww
Note
PS: meant to add the 10-day BTC pair, a 'dragonfly DOI' candle printed on the 'great buy' signal. A GB signal on this time frame is 'throw the farm at it'.Note
See the breakout from the wedge? You know what will happen next... Note
Should you be a little fuzzy about what happens next, here's what happened last time:Trade active
"What if' conditions met.Trade active
Another token with the 12hr breakout + backtest on past resistance that is also the golden ratioTrade active
Trade active
Trade active
A 2nd opportunity Note
on supportTrade active
Support confirmed...Trade active
Trade active
Note
When price action strikes 80 cents the flag should break out and strike 1.55
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.