The probability of further upside following a massive 86,000% return since last March and multiple overbought conditions has reached a limit. The risk / reward now favours sellers.
Why bearish? On the above 4-day chart:
1) Price action has broken the 21-week EMA (yellow line) with a full bodied candle. Price action has also failed to confirm the ascending triangle pattern with a breakout to the underside.
2) Bearish divergence between price action and the oscillators. See 2-week chart below.
3) RSI support has failed with RSI now <50 = very bearish.
4) Astonishingly 96% of tradingview ideas are long counting the first 50 recently published. 90% of traders out there will lose money. Don’t be the 90.
5) Bearish engulfing candle recently printed on 2-week - remember this is a 2-week chart, very powerful.
A short entry from 38 cents is amazing.
Trade is void with price action holding 45 cents > 1-week.
Target? 3 cents.
WW
Why bearish? On the above 4-day chart:
1) Price action has broken the 21-week EMA (yellow line) with a full bodied candle. Price action has also failed to confirm the ascending triangle pattern with a breakout to the underside.
2) Bearish divergence between price action and the oscillators. See 2-week chart below.
3) RSI support has failed with RSI now <50 = very bearish.
4) Astonishingly 96% of tradingview ideas are long counting the first 50 recently published. 90% of traders out there will lose money. Don’t be the 90.
5) Bearish engulfing candle recently printed on 2-week - remember this is a 2-week chart, very powerful.
A short entry from 38 cents is amazing.
Trade is void with price action holding 45 cents > 1-week.
Target? 3 cents.
WW
Note
Expecting a rally to 34-45 cents area. Watch it closely, does it become support? Trade void.Does it become resistance? Get a life jacket.
Note
Should expect a rally to the 30 cents area following the buy signal. Trade closed: target reached
Target reached -90% later.No indication of a trend reversal at this time.
Trade closed: target reached
Now I realise I’ve closed this idea already but I thought it was such an awesome prediction that it was worth closing twice.Bluster aside, it is time to get your bull on..
5-day chart
Trade closed: target reached
The close above was perfect. Closing it again as the Bitcoin pair of this token is printing.. well see for yourself... 
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.