Hi All,
I understand that the ALTs are taking a beating but soon, there will be an opportuinty for them to regain.
Why is it happening? Most likely people will be dropping their ALTs for BTC however those who are doing this will soon run out and at the same time, BTC might level off.
Its when the ALTS will make their move.
I have chosen THETA purely because of its trend. At the macro level, it hasn't lost its upward trend and hence looking for that cradle setup to jump in.
I am watching 2 levels at the moment.
Note: downward pressure is still there so we can potentially short this and after a day, it could turn out to be a level to go long.Risky. Wait.
We just have to wait for the price\candle stick combination tells us what's going on.
This level has confluence for support for a number of reasons as you can see.
a) bottom support trend line
b) horizontal support\fib level
c) Macd has convergence. Note the stoch and WT indicator, bottoming out.
2 items is enough.
If I don't miss it, I will post my update for the entry.
Cheers,
S.SAri.
Nice cup and handle formation prior
I understand that the ALTs are taking a beating but soon, there will be an opportuinty for them to regain.
Why is it happening? Most likely people will be dropping their ALTs for BTC however those who are doing this will soon run out and at the same time, BTC might level off.
Its when the ALTS will make their move.
I have chosen THETA purely because of its trend. At the macro level, it hasn't lost its upward trend and hence looking for that cradle setup to jump in.
I am watching 2 levels at the moment.
Note: downward pressure is still there so we can potentially short this and after a day, it could turn out to be a level to go long.Risky. Wait.
We just have to wait for the price\candle stick combination tells us what's going on.
This level has confluence for support for a number of reasons as you can see.
a) bottom support trend line
b) horizontal support\fib level
c) Macd has convergence. Note the stoch and WT indicator, bottoming out.
2 items is enough.
If I don't miss it, I will post my update for the entry.
Cheers,
S.SAri.
Nice cup and handle formation prior
Note
potential scenarioNote
looking good, smaller time frameNote
Establishing resistance requires 2 touches. Similarly support, 2 touches, then along with other items, like convergence, go for the entry. Patience.Note
Its looking good, now we have 2 touches to confirm resistance. It might break through or touch the support level 1 more time, as we need 2 touches to confirm this. Its likely it will hold.Note
Note
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.