Chart asked from VIP member
TIME FRAME - 1hr
Indicators -
RSI strong now but already high
STOCH RSI coming up
MA100 strong support now! its aligning with the trend line (black) this its important!
Price -
what to look? started a big reversal breaking MA100 and coming exactly for 1.618 FIB (fib calculated by last resistance and the bottom)
this 1.618 its first target from who bought at bottom this explain why retraced from that level.
After touch target retraced for 0.5 FIB (calculated by last bottom and new high) then tested resistance again failed but still making high lows this formation its a ascending triangle with flat top (BULLISH)
The Pink FIB its next target if break FLAT TOP formation FIB calculated from last swing high and last swing low.
RICK what did u recommend here?
STOCH RSI coming up show us a chance to try break triangle formation this its an education chart but if breakup flat top can be a good buy looking to 1.618 first target and 2.618 second target
But market still unstable and if BTC start a bull run alts will drop more because traders will sell alts to catch BTC ride, so if u are looking to enter here get in and get out fast!
TIME FRAME - 1hr
Indicators -
RSI strong now but already high
STOCH RSI coming up
MA100 strong support now! its aligning with the trend line (black) this its important!
Price -
what to look? started a big reversal breaking MA100 and coming exactly for 1.618 FIB (fib calculated by last resistance and the bottom)
this 1.618 its first target from who bought at bottom this explain why retraced from that level.
After touch target retraced for 0.5 FIB (calculated by last bottom and new high) then tested resistance again failed but still making high lows this formation its a ascending triangle with flat top (BULLISH)
The Pink FIB its next target if break FLAT TOP formation FIB calculated from last swing high and last swing low.
RICK what did u recommend here?
STOCH RSI coming up show us a chance to try break triangle formation this its an education chart but if breakup flat top can be a good buy looking to 1.618 first target and 2.618 second target
But market still unstable and if BTC start a bull run alts will drop more because traders will sell alts to catch BTC ride, so if u are looking to enter here get in and get out fast!
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