Alchemix (ALCX) - ridiculous move soon

On the above weekly chart price action has corrected over 99% since the topping out at $1900 in April 2021. A number of reasons now exist to be bullish , including:

1) A strong buy signal (not shown) prints, which has now confirmed.

2) The breakouts of Price action, RSI , and Money Flow ( MFI ) resistance.

3) Price action falls to Fibonacci following price action resistance break out.

4) What was said above is also true for the BTC pair.

5) On 'what if' list.

Is it possible price action falls further? Sure.

Is it probable? No

Ww


Type: trade
Risk: <=6% of portfolio
Timeframe: weeks
Return: Don’t know.

Trade active

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Seeing this set up across a number of alt tokens, especially the ones recently published ‘ridiculous move soon’. If I made this any easier I’d be handing over the money.

On the 3-day charts below, a token called ERN on the left, ALCX on the right.

See what I do?

1) strong buy signal (not shown, just PM me if you do)
2) falling wedge break out
3) bounce off the Fibonacci 0.236

What’s the bet we see ALCX $140 in the near term?

Comment:

A nice little DOJI prints on the 4-day chart following the breakout of resistance.

Comment:

The power of DOJI.

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A number of buyers got flushed out on the last sell off hence why a higher low printed. Amazing to see the 90% in action.

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This would be an exceptional moment.

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Do you remember the tutorial on one of my favourite candle stick patterns? All about the psychology..

If you don’t:

And now ALCX on the 3-day

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A strong break of resistance today with volume.

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break confirmed

Comment:

Is price action about to spring up to $60 ??

I say that because of what is happening on the GRM. Some of you know what that is some of you don’t. For those of you that don’t it is the yellow dotted line and no, it is not a moving average.

On a recent idea, Highstreet, price action saw this test of the GRM on the 2-day before a large move, that was when published. In fact I'm seeing this on a number of positions, not just those discuss here. But ALCX...

2-day GRM test on Highstreet

2-day GRM test on ALCX present day

Feeling the FOMO yet?

Trade active:

I like it when those resistance tests confirm.

Comment:

For info, sellers must close price action below $19 today. No if not buts. That is where the line is. Failure to close below this level will most probably lead to a runaway move in price action to the target mentioned some days ago.

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GRM support confirmed.