Long

Updated

Utrust (UTK) vs USD (and BTC)

Strong bullish divergence appearing here on this 4-day chart. The last candle completes today following a Dragonfly DOJI & support on the 21-day moving average. Clearly someone knows something I don't, considerable volume pouring in, I've no idea why. There is a saying "Extremes in the market is marked by extremes in volume". The volume can be observed across multiple exchanges. 40% to the 21-week moving average.

The weekly chart - also showing divergence with higher lows on the Stochastic RSI. Will be watching to see if the last candle completes as a Dragonfly. This chart reminds me a lot of the Dash chart a month ago before it took off.

Here is a BTC chart on another exchange, same bullish divergence:

Note

The volume continues to grow as the weekly candle closes today, all with bullish divergence. Still no idea why... The only correlation I can make is a news event:

Utrust Bring on Ebay and PayPal Exec as CEO:
thedailychain.com/utrust-bring-on-ebay-and-paypal-exec-as-ceo/

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Price action continues to look good, healthy volume with support established on the 21-week moving average on completion of this 3-day chart. The next days should provide some positive price action.

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Looking good, 60% so far.

Two important indicators just occurred (wish more alts would show this to be honest, patience):

1) Support on the 21-week moving average (blue line) is confirmed. We first broke through it and came back down to test as support. Yesterday's price action confirmed support.

2) RSI trend line is now identified as strong support. We have established higher lows on this trend line whilst price action is above the 21-day moving average. That's a great signal to have. What is interesting the continuation of this support. It is projected to last through and until Spring 2021. If you can hold until then I suspect you'll be rewarded plenty.

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1st target $0.025

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That was quick - Target reached!

So you're probably thinking it is time to sell? That's emotion talking. The chart tells us the Stochastic RSI (momentum) is continuing to increase, so we do nothing. Enjoy the ride ;-)

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Price action undecided as it tests the 600-day moving average (red line). However we can see from the RSI that support is being offered by previous strong resistance. All good - be patient.

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A falling wedge (Bullish continuation pattern) appears to forming.

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This project is gaining my attention more and more... a report / review by blockfyre. A Utrust Widget is now available to users of Wordpress that now allows merchants to accept Cryptocurrency at the point of sale, if I understand the report correctly. Please do your own research!

drive.google.com/file/d/1tfW2JQYI58HsSRfDw9nMkmI99y5PQ3Bs/view

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A nice bounce off the 600-day moving average (red line) with a breakout to the upside of the ascending symmetrical triangle.

For the moment the oscillators say 'hold'.

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Last week ended with yet another bullish engulfing candle. The weekly chart also continues to hold Stochastic RSI above 80 (overbought) but we're long until it crosses back down.

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*swing trade opportunity*

Now might be a good time to take some profits. Currently overbought on both USD & BTC and Stochastic RSI crossing down.

Trade closed: target reached

Boom 1000% In a little only over 3 months.

My indicator for a strongly overbought market (green bar) just illuminated. That does not mean the top of price action, but we're certainly very near it.

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Now an astonishing 1100%.

RSI support continues to hold. Be cautious though, RSI is very overbought and if Bitcoin takes an expected dip to the downside in the coming days... well alt-coins alway suffer the worst.

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Be careful if you're still holding on... lots of bearish engulfing candles clustering - a strong indication a downward trend is about to occur.

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Possibly has another 50% in it before hitting that upper trend line bringing us to 4000% since start of trade.

Trade active

7500% so far with a strong weekly bounce off the 21-week EMA

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You know something... I think this idea is on the verge of repeating the 10,000% per the original idea. Can I be bother publishing a new illustration..

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

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

Also on:

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without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

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

Also on: