Hello,
Analyzing the cryptomarkets brought me the image that appears now on Your screen.
Technically there are few conditions filled that open an opportunity to look forward for next market cycle.
1. First of all - DASH broke out from falling wedge (white line). This is a big formation that lasted since the current Year began. Keep in mind that this broken resistance might be in need of retest.
2. Recently We experienced huge decline that occured on 10 October. This poured some panic and started terryfying retailers. This statement is due to relatively small dip where We could recognize trend narrowing. This kind of movement is tempting for buyers to do anything for progression. Finally, such situation could be used to create double bottom pattern as correction of breakout.
3. RSI started to rise despite of lower low forming. This means that We could experience a higher low painted on huge picture.
Enter now or wait for confirmation around 159 $USD level.
SL below 153 $USD
Target: 180$ and looking to accumulate.
Once the idea plays out, this could have impact on my view on BTC.
When charts are narrowing Your attention should be atleast doubled.
If You enjoy my piece of work click like!
Analyzing the cryptomarkets brought me the image that appears now on Your screen.
Technically there are few conditions filled that open an opportunity to look forward for next market cycle.
1. First of all - DASH broke out from falling wedge (white line). This is a big formation that lasted since the current Year began. Keep in mind that this broken resistance might be in need of retest.
2. Recently We experienced huge decline that occured on 10 October. This poured some panic and started terryfying retailers. This statement is due to relatively small dip where We could recognize trend narrowing. This kind of movement is tempting for buyers to do anything for progression. Finally, such situation could be used to create double bottom pattern as correction of breakout.
3. RSI started to rise despite of lower low forming. This means that We could experience a higher low painted on huge picture.
Enter now or wait for confirmation around 159 $USD level.
SL below 153 $USD
Target: 180$ and looking to accumulate.
Once the idea plays out, this could have impact on my view on BTC.
When charts are narrowing Your attention should be atleast doubled.
If You enjoy my piece of work click like!
Comment:
Creating such a gap on 4hr lifts chances for green scenario, otherwise candle will engulf preceding one and trigger stop loss in following steps. Quite solid R:R !
Comment:
It would be quite wise to wait for any signs of continuation, like healthy correction towards the closest anchor around $159
